__________________________________________
What is a Reverse Mortgage?
Reverse Mortgage:
A Reverse Mortgage is designed for older homeowners to convert their
home equity into cash.

(Home equity is the value of the home minus outstanding debts against the
home.)

Money is advanced to the home owner based on the amount of equity in
the home.

The mortgage debt is increased by the amount of the money advanced.
Interest accrues on the loan balance but no payments have to be made
until the home is sold or the borrowers die.


Click here for more Mortgage Related Topics!
30 Year Mortgage Rate Forecast
Real Estate Forecast
______________________________________________________________________________
Search     1000 Charts     Home     About     Report a Problem with this Page     Site Map     Contact us

Privacy Policy     Terms of Use/Disclosure     SignalTrend Inc.  2008 - 2009, All Rights Reserved
Home        About Us