Reverse Mortgages vs. Home Equity Lines of Credit

There are some similarities between reverse equity mortgages and home equity lines of credit. Both programs use equity in the property to generate cash flow for the homeowner, and both require the homeowner to pay all property taxes and insurance and utility payments.
Another similarity lies in payment options. Reverse mortgages loans offer several disbursement [...]

Payment and Repayment of Reverse Mortgages

Reverse mortgages are an attractive option for senior citizens ages 62 and older who want the benefits of liquidity but have a large amount of their financial assets tied up in their home. Reverse equity mortgages are a special type of loan used to “unlock” the equity in older homeowners’ homes, allowing seniors to cash [...]