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  • Answer Upon - Reverse Mortgage Home Equity Loan: Is There One In Your Future?

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    Reverse mortgages have gotten a lot of publicity lately and will probably get a lot of press in the future as baby boomers near retirement age. What are they? Who can use one? Is there a reverse mortgage in your future?

    WHAT ARE REVERSE MORTGAGES

    A reverse mortgage is a home equity loan or line of credit that is secured by the equity in your home. You do not repay as long as you live in the home. The reason it is called a reverse mortgage is because it is the opposite of a regular home equity loan where you red

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    as baby boomers near retirement age. What are they? Who can use one? Is there a reverse mortgage in your future?

    WHAT ARE REVERSE MORTGAGES

    A reverse mortgage is a home equity loan or line of credit that is secured by the equity in your home. You do not repay as long as you live in the home. The reason it is called a reverse mortgage is because it is the opposite of a regular home equity loan where you red

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    WHAT ARE REVERSE MORTGAGES

    A reverse mortgage is a home equity loan or line of credit that is secured by the equity in your home. You do not repay as long as you live in the home. The reason it is called a reverse mortgage is because it is the opposite of a regular home equity loan where you red

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    dit that is secured by the equity in your home. You do not repay as long as you live in the home. The reason it is called a reverse mortgage is because it is the opposite of a regular home equity loan where you red
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    n it is called a reverse mortgage is because it is the opposite of a regular home equity loan where you reduce debt and build up equity. In a reverse mortgage you reduce equity and build up debt. That is where the money comes from.

    WHO CAN USE REVERSE MORTGAGES

    Basically anyone who is over age 62, owns and lives in their own home and has paid off at least 60% of the loan can apply for a reverse mortgage. There is no proof of income requirement.

    USES FOR PROCEEDS

    The money can basically be use

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