Top Reverse Mortgage Questions, Part 1

1. What is a reverse mortgage?
A reverse mortgage is a special type of loan used to “unlock” the equity in older homeowners’ (ages 62+) homes. Reverse mortgages enable seniors to cash in on the equity in their homes without giving up ownership of the property. The tax-free income is a loan, and payments are deferred until [...]

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 [...]