The reverse mortgage was created to help elderly homeowners who need to increase their income.
A reverse home loan is a backward operated mortgage product that pays the homeowner in exchange for the right to the equity value in the home has to offer up to the amount owed at the end of the loans life or term.
A reverse mortgage loan is a loan that can be either obtained in a lump sum, line of credit, or the traditional reverse mortgage installments. The equity in a home is reduced in accordance to the money borrowed an the costs incurred.
A reverse mortgage loan is a mortgage product that offers elderly borrowers a cash flow solution in the form of a secured loan.
A reverse mortgage is a non-recourse loan and debt. This means that only the value of the home may pursued as a source of repayment.
Reverse Mortgage History
FHA Reverse Mortgage