Reverse Mortgage For Seniors 62 And Older
ContentsHomeowners 62 yearsEquity conversion mortgage (hecm)Special home equity optionsSenior living communityRemaining equity balanceA reverse mortgage loan is a special type of mortgage loan for seniors (generally age 62 and older). Unlike a traditional mortgage, a reverse pays you loan.Reverse Mortgage for Seniors - Retired Brains - Reverse mortgages are available to homeowners 62 years old and older with significant home equity, according to the NRMLA. "They are designed to enable retirees to borrow against the equity in their homes without having to make monthly payments as is required with a traditional "forward" mortgage or home-equity loan.Reverse Mortgages, Everything You Need To Know | Bankrate.com - A reverse mortgage is a type of loan that's reserved for seniors age 62 and older, and does not require monthly mortgage payments. Instead, the…