New Listing! 2031 Blackberry Lane Lancaster, SC MLS 3449898 $285,900

13

Beautiful ranch style home with open concept and functional floor plan. Bonus 4th bedroom with full bath and walk-in closet on second floor. This home sits on a level corner lot and is loaded with custom UPGRADES not found in all similar homes. Upgraded gourmet kitchen with custom cabinets, wall oven, gas cooktop and stainless steel appliances, pendant and under cabinet lighting. Upgraded baths with porcelain tile and master garden tub. Other upgrades include plantation shutters, custom shelving, enclosed garden tub and custom paint. Enjoy the large front covered porch with views of the neighborhood park. Take advantage of the many community features including a sports complex, playground, walking trails, resort-style pool and fitness center. Minutes from Indian Land’s brand new shopping center and restaurants. Why wait to build when this home is ready for you? Schedule a showing today!

Matrix Full

16

Reverse Mortgages

reverse-mortgages

Reverse Mortgreverse-mortgage-pic-2age – is a special kind of home loan that allows  homeowners to convert a portion of the homes equity into cash. The equity that is built up over years of making mortgage payments can be paid to the owner.

While this may be a smart option for some, reverse mortgages can be complicated and may not be the best fit for you or your loved one. Also, many people inherit property financed by a relatives reverse mortgage and are unsure how to handle the with property once the parent passes.

Here are few tips to remember when dealing with reverse mortgages:

1. Dont allow the property to automatically revert back to the reverse mortgage company. If someone you know currently has a reverse mortgage. Make sure that there is a plan in place for the property once it is left behind.

2. Dont lose the equity in the property. If there is still equity in the property at the the time of an inheritance; heirs can sell the property by giving back what is owed to the reverse mortgage company. The rest will become profit to those who are inheriting the home.

3. Dont Fail to continue to pay taxes and insurance on the home. This could allow the lender to foreclose on the reverse mortgage and cause the homeowner to be forced to move. 

4. Dont let reverse mortgage companies make you feel like you are stuck. You may not be receiving as much income as expected or the monthly income does not compare to the equity that is lost. Its not too late to eliminate the mortgage if you feel like it is not beneficial. 

Do you or someone you know have questions about their reverse mortgage? Have you inherited a home with a reverse mortgage and are unsure on how to handle it? I can help! Contact me for assistance and to answer any questions you may have. (803)-567-5478 or kiswuana@ericahomes.com.