A special type of home loan that gives cash by converting a portion of the equity in a person's home is known as reverse mortgage. The equity, built up over many years of mortgage payments, can be made available to you from which, a portion can be converted to a reverse mortgage.

A special type of home loan that gives cash by converting a portion of the equity in a person's home is known as reverse mortgage. The equity, built up over many years of mortgage payments, can be made available to you from which, a portion can be converted to a reverse mortgage....More

Paying your monthly Bills - Income is usually unable to keep up with inflation and the proceeds of the reverse mortgage can be used to pay monthly bills as well as pay off credit card debts and other such expenses. Paying health care bills - With old age, come a plethora of health problems and a number...More

In a home equity loan or a traditional second mortgage, you need to have sufficient income vs debt ratio in order to qualify for the loan and you must make monthly mortgage repayments. However, in a reverse mortgage, your current income is not taken into consideration for fixing the loan amount....More

John and Sandy were living well and had just got retired with their children settled and out of home. They had always wanted to travel and see the country in a RV, but had kept postponing it because of the mortgage and the children. Sandy was at a bridge club meeting when she first heard of Reverse Mortgage...More