Reverse mortgage loans should be paid back when you move out of the house or when you die. But, the loan may have to paid earlier in case the house isn’t your primary home, you are not paying your homeowners insurance or property taxes, or you’ve failed to keep the house in good repair.… Read More

If your biggest asset is your home equity and you are short on cash, don’t know any other way of raising money you need to cover your daily expenses, then you may want to consider taking out a reverse mortgage. But keep in mind that this is not something that you should take lightly.… Read More

A reverse mortgage is a kind of mortgage loan that is secured against a house or any residential property, that could provide retirees additional income by providing them with access to their property’s unencumbered value. However, just like everything else, there are some disadvantages to this particular approach like high interest rates and costly fees, that could cannibalize a significant part of the homeowner’s equity.… Read More

Reverse mortgage can offer a welcome source of money. However, they are not always the best option in every situation. Reverse mortgage is a loan that allows homeowners who are at least 62 years old to convert part of the equity of their home into cash.… Read More