senior citizens: What is a Reverse Mortgage?
- 02/11/16 04:27 AM
You’ve probably seen the commercials for reverse mortgages, and if you’re a senior citizen, you may have even considered one. Unfortunately, while the commercials do a good job of making a reverse mortgage sound good, they don’t do a very good job of explaining what they actually are. Let’s dive a little deeper into exactly what a reverse mortgage is. First of all, a reverse mortgage is basically just a loan against your house. It allows you to turn the equity you have in your home into cash. You can draw on it a little at a time, almost like if the mortgage … (1 comments)
You’ve probably seen the commercials for reverse mortgages, and if you’re a senior citizen, you may have even considered one. Unfortunately, while the commercials do a good job of making a reverse mortgage sound good, they don’t do a very good job of explaining what they actually are. Let’s dive a little deeper into exactly what a reverse mortgage is.
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