Vacation Home

A vacation home is a property that people buy for weekend retreats or other vacations. Vacation homes are either rented out when not used by the owner or left vacant. In some cases vacation homes may also be investment properties. Learn about what to consider when buying a vacation home or passing it on as an inheritance.

Featured Vacation Home Article

Can Reverse Mortgage Be Used To Finance Home Repairs?

A reverse mortgage can only be used on a home that is the primary residence of the homeowners, and could not be used to finance repairs for a family's vacation home. A home equity loan would be the more logical way to pay for home repairs, even for a home held in a trust. As long as the value of the home is assured and the loan is secured by the property, the home equity loan would be repaid every month like any other loan.

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