| What is a Reverse Mortgage? |
Reverse Mortgages work just as the name suggests, instead of the homeowner paying the bank, the bank pays the homeowner.
A reverse mortgage enables senior homeowners, ages 62 and over, to convert some of their home equity into cash – without selling their home or having to worry about making monthly payments. The bank is repaid later, once the home is sold or the estate is settled. |
|
| |
| Is it right for me? |
A Reverse Mortgage has no income or credit requirements and you'll never have to make monthly loan payments.
|
|
| |
| Did You Know? |
Even if you have an outstanding first mortgage, or some other real estate secured debt, you still may be able to qualify for a Reverse Mortgage.
|
|
| |