Reverse Mortgage, Life Insurance, and Inheritance

As stated previously, reverse mortgages are advantageous to senior homeowners for a number of reasons. Because all reverse mortgage loan payments are deferred as long as the property remains the borrower’s primary residence, there is no obligation to repay the reverse home mortgage until the owner dies, the home is sold, or the owner otherwise [...]

When the Loan Ends

Reverse mortgages are advantageous because all loan payments are deferred as long as the property remains the borrower’s primary residence. There is no obligation to repay the loan until the owner dies, the home is sold, or the owner otherwise vacates the property (for example, to move into an assisted-living facility).
So, what happens when [...]

When NOT to Consider a Reverse Mortgage

A reverse mortgage is a type of loan that allows homeowners ages 62 and older to convert part of the equity in their homes into cash - without selling the property, transferring the title, or making monthly payments on the loan. While these loans are advantageous to some seniors’ situations, reverse equity mortgages are not [...]

Basic Features of a Reverse Mortgage

A reverse equity mortgage can be an attractive option for some seniors, but this type of loan does come with a specific set of requirements and regulations. Any consumer considering using a reverse mortgage to unlock the equity in his or her home should carefully examine the terms of the mortgage before committing.
• Reverse mortgage [...]