July 31st, 2010
What Is Reverse Mortgage?
What Is Reverse mortgage?
A reverse mortgage is a loan available to those with the minimum age requirement of 62. A reverse mortgage releases the home equity of one's home as either a lump sum or in multiple payments. However, what makes this mortgage unique is that the homeowner's responsibility to repay the loan is delayed until they either pass away, sell the house, or leave (to an institution such as assisted living).

