Reverse mortgage puts cash in owner’s hands

Reverse mortgage puts cash in owner’s hands,

A reverse mortgage has the potential to make retirement more pleasant and financially secure than it otherwise might be. An increasing number of seniors find themselves “house rich, cash poor.” While seniors have enjoyed rapidly appreciating home values, their incomes may have failed to keep pace with healthcare costs and general living expenses. A reverse mortgage may solve this problem and also provide many other benefits.

So, what is a reverse mortgage? A reverse mortgage enables homeowners, age 62 and over, to convert the equity in their homes to cash, without selling the property. The homeowners retain title and all the responsibilities of home ownership, such as taxes, insurance and maintenance.

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Full post here Reverse Mortgage Loan Blog

Written by News & Feeds on January 14th, 2008 with comments disabled.
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