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Raymond Denton
rainmand

California
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">>If I take a RM for the full appraised value of my home and oulive the payout then what are my alternatives. I'll have no money, no more monthly checks but still be in a house that needs to be supported ie: taxes..maintainance. Am I just deferring being homeless?? A lot easier, and less costly alternative might be to just downsize my living quarters? Downsizing your living quarters is usually a better way to go. But you've got something wrong ... you can't ever outlive the monthly..."    View Comment
">>If I draw down all of my credit line under a RM, what is there left for me to do in order to maintain the expenses on my home? Your responsibilities would be to maintain your homeowners insurance, property tax, and to keep your home maintained. >>Seems like I'm back to square one with no money and now no equity left in my home. Using all of your credit line doesn't result in a reduction of equity in your home. However, it allows the remaining equity to be used quicker because..."    View Comment
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