Can you pay off a mortgage with a reverse mortgage?

Answer A reverse mortgage is a type of loan, specifically for borrowers ages 62 and older, that allows a borrower to use the equity in her home to refinance a current mortgage or pull cash out for expense... Read More »

Top Q&A For: Can you pay off a mortgage with a reverse mortgage

Can you have a second mortgage included with a reverse mortgage?

A borrower who is 62 or older can purchase a reverse mortgage to pay off any and all debt on their primary residence, including a first and second mortgage debt.SignificanceA reverse mortgage pays ... Read More »

What to Do With a Reverse Mortgage After Your Mom Dies?

Reverse mortgages, once considered a retirement-funding plan of last resort, have instead morphed into a valuable tool that elderly homeowners rely upon to stay in their residences.They allow the h... Read More »

Who Do You Talk With to Get an Interest-Only Mortgage Changed to a Fixed Rate Mortgage?

Interest-only mortgages are considered to be one of the riskiest types of home loans on the market. If you have an interest-only loan, you can take the necessary steps to convert it into a fixed ra... Read More »

Is reverse mortgage safe?

On One Hand: Federal BackingMost reverse mortgage are backed by the Federal Housing Administration (FHA) or the Federal National Mortgage Association (Fannie Mae), making them a safe way for senior... Read More »