Marjorie Youngren Team | Lynnfield Real Estate, Melrose Real Estate, Middleton Real Estate


This Single-Family in North Reading, MA recently sold for $889,900. This Colonial,Cape style home was sold by Marjorie Youngren Team - William Raveis Real Estate.


6 Upton Avenue, North Reading, MA 01864

Single-Family

$889,900
Price
$889,900
Sale Price

10
Rooms
5
Beds
3/2
Full/Half Baths
PRIVATE SETTING! WONDERFULLY REDESIGNED, this SPECTACULAR, BETTER THAN NEW Cape Cod home was completely rebuilt & renovated by renowned local contractor, MGHALL CONTRACTORS, INC. Features include a ceramic tile mudroom side entry with half bath and laundry room. The Gorgeous kitchen boasts quartz countertops, custom cabinetry and stainless steel appliances. The Oversized 20x24 family room features fireplace and hardwood floors with sliders to private patio. 1ST FLOOR MASTER BEDROOM SUITE headlines this wonderful home with walk-in closet with custom build closet system, and stunning Master Bath with soaking tub! Formal dining room and office finish the 1st flr. The Second floor features high ceilings, FOUR SPACIOUS BEDROOMS WITH WALK IN CLOSETS, 2 full baths PLUS a den. Lower level is partially finished with 3/4 bath! The car enthusiast with LOVE the OVERSIZED 2 car garage plus work shop/office, (with heat and electricity!) NEW CENTRAL AIR, NEW SEPTIC, Pet Stop Electric Fence!

Similar Properties



Photo by 3D Animation Production Company via Pixabay

If you’re retired, own your own home and have trouble making ends meet, a reverse mortgage may seem like the answer to prayers. You get to stay in your house and you’ll have some extra cash to see you through. Before you run to the nearest lender, however, consider the downside as well as upside to these instruments.

What is a reverse mortgage?

A financial institution lends you money, either a lump sum, a stream of payments or a line of credit, against the equity in your home. Unlike most loans, however, you’re not required to pay it back on a regular basis. You can let the loan ride until you die, move or sell the home, at which your home is sold and the proceeds pay off the loan.

While there are several flavors of reverse mortgage, most are insured by the Federal Housing Administration (FHA) under a program called the Home Equity Conversion Mortgage (HECM).

Am I eligible for a reverse mortgage?

Everyone on the title must be 62 or older. The home must be your primary residence, and your equity needs to be at least around 50 percent. Also, you have to attend consumer counseling before signing up.

What are the pros of a reverse mortgage?

  • You stay in your home. You keep the title until you sell, move or die.

  • There are no required monthly payments. Any previous home loans are paid before you receive your proceeds.

  • If you choose to make payments, there’s no prepayment penalty.

  • The money you receive is not taxable, nor does it affect your Social Security or Medicare eligibility.

  • The loan is non-recourse. Regardless of your loan balance, you'll never have to pay back more than the house is worth.

What are the cons of a reverse mortgage?

  • Unless you make payments, the loan amount will continue to increase. It’s unlikely you’ll pass the home on to your heirs.

  • You must continue to pay taxes, insurance and necessary maintenance and repairs. Failure to do so can lead to foreclosure.

  • There are upfront and ongoing mortgage insurance premiums as well as a loan origination fee. These (and interest rates) trend higher than for other mortgage loans.

  • Your favorite bank may not offer reverse mortgages. Most issuers are small banks, credit unions and online lenders. Some lenders have made misleading claims that understate the risk.

  • If you go into a nursing home you will have to sell the home and pay off the loan.

  • While Social Security and Medicare are not an issue, reverse mortgage income can affect your eligibility for Medicaid and Supplemental Security Income.

Should I apply for a reverse mortgage?

If you plan to stay in your home well into retirement and are having trouble with ongoing expenses, it may be right for you. However, if you aren’t cautious about what you’re getting into, or if you’ll have trouble paying taxes, insurance and upkeep even with the extra money, it isn’t a wise choice.


THIS SUPER SPACIOUS, WELL MAINTAINED, EXPANDED CAPE HAS LOTS OF ROOM FOR EVERYONE! The fabulous Great Room w/separate entrance was added in 2004, Spanning 650 square ft. above the OVERSIZED 2 CAR GARAGE. This room has lots of potential..WHAT A GREAT HOME OFFICE! OR AN INLAW SET UP? The main floor contains a FAMILY ROOM w/Harvey Sliders & pellet stove, a spacious E-I-K, w/plenty of counter space & sliders as well. Both rooms open to the deck w/PRIVATE, LEVEL BACK YARD & well cared for above ground pool. It also has PLENTY OF GREEN SPACE. The FF continues w/a large fireplaced living room, Dining room, 2 additional bedrooms & full bath tucked on the other side of the entertaining area for privacy. ~Gleaming HW throughout ~Up you will find a large Master BR w/sizable bath, & a 2nd bedroom. A large BATH w/a 2 person jacuzzi tub & shower round out this floor. This Desirable Huckleberry neighborhood is only a short “cut through” to the elementary school, and close to all major routes.

More Info on this Property | New Listing Alerts


9 HUCKLEBERRY ROAD, Lynnfield, MA 01940

Single-Family

$799,900
Price

10
Rooms
4
Beds
3
Baths
THIS SUPER SPACIOUS, WELL MAINTAINED, EXPANDED CAPE HAS LOTS OF ROOM FOR EVERYONE! The fabulous Great Room w/separate entrance was added in 2004, Spanning 750 square ft. above the OVERSIZED 2 CAR GARAGE. This room has lots of potential..WHAT A GREAT HOME OFFICE! OR AN INLAW SET UP? The main floor contains a FAMILY ROOM w/Harvey Sliders & pellet stove, a spacious E-I-K, w/plenty of counter space & sliders as well. Both rooms open to the deck w/PRIVATE, LEVEL BACK YARD & well cared for above ground pool. It also has PLENTY OF GREEN SPACE. The FF continues w/a large fireplaced living room, Dining room, 2 additional bedrooms & full bath tucked on the other side of the entertaining area for privacy. ~Gleaming HW throughout ~Up you will find a large Master BR w/sizable bath, & a 2nd bedroom. A large BATH w/a 2 person jacuzzi tub & shower round out this floor. This Desirable Huckleberry neighborhood is only a short "cut through" to the elementary school, and close to all major routes.
Open House
Saturday
September 26 at 11:00 AM to 2:00 PM
More Open Houses
Cannot make the Open Houses?
Location: 9 HUCKLEBERRY ROAD, Lynnfield, MA 01940    Get Directions

Similar Properties




9 HUCKLEBERRY ROAD, Lynnfield, MA 01940

Single-Family

$799,900
Price

10
Rooms
4
Beds
3
Baths
THIS SUPER SPACIOUS, WELL MAINTAINED, EXPANDED CAPE HAS LOTS OF ROOM FOR EVERYONE! The fabulous Great Room w/separate entrance was added in 2004, Spanning 750 square ft. above the OVERSIZED 2 CAR GARAGE. This room has lots of potential..WHAT A GREAT HOME OFFICE! OR AN INLAW SET UP? The main floor contains a FAMILY ROOM w/Harvey Sliders & pellet stove, a spacious E-I-K, w/plenty of counter space & sliders as well. Both rooms open to the deck w/PRIVATE, LEVEL BACK YARD & well cared for above ground pool. It also has PLENTY OF GREEN SPACE. The FF continues w/a large fireplaced living room, Dining room, 2 additional bedrooms & full bath tucked on the other side of the entertaining area for privacy. ~Gleaming HW throughout ~Up you will find a large Master BR w/sizable bath, & a 2nd bedroom. A large BATH w/a 2 person jacuzzi tub & shower round out this floor. This Desirable Huckleberry neighborhood is only a short "cut through" to the elementary school, and close to all major routes.
Open House
Saturday
September 26 at 11:00 AM to 2:00 PM
More Open Houses
Cannot make the Open Houses?
Location: 9 HUCKLEBERRY ROAD, Lynnfield, MA 01940    Get Directions

Similar Properties





Loading