Friday, May 04, 2012

Retirement communities sometimes help seniors with upsidedown homes

NBC News is reporting that retirement communities are sometimes helping senior sell upsidedown homes so that theory will be able to afford to purchase or rent retirement condos or CCRC units.

The Nightly News story was here.

Sometimes the retirement community allows the customer to keep the difference if it can actually sell the customer's home for a profit, and will "eat" the loss.

CCRC's often have high "entry fees" (instead of purchase prices) as well as rent.

1 comment:

DENICE said...

Thanks for sharing the information. It will be a great help to retirees. I am going to retire after 6 months. I am thinking to move in a retirement community in PA. It is one of the Best Retirement Communities there. I think they will help me to sell my house in Chicago.