Question

 What is a reverse mortgage and how do I get one?

Answer For many people, the retirement years present a financial challenge. If you are a senior and own your own home, you may be able to use the equity of your home as a source of needed cash by getting ... Read More »
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Top Q&A For: What is a reverse mortgage and how do I get one

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 »
http://www.answerbag.com/q_view/1870628

What is reverse mortgage?

A reverse mortgage is a type of mortgage that allows home owners age 62 and older to use the built-up equity in their home to pay off their current mortgage debt or create additional needed income ... Read More »
http://www.answerbag.com/q_view/1968092

When should you use a reverse mortgage?

A reverse mortgage is a financial product offered by lenders like banks that gives a homeowner of age 62 or older money in exchange for an equity stake in the home. Trading away a home's equity wit... Read More »
http://www.answerbag.com/q_view/1795490

How much can one get on a reverse mortgage?

The amount of the reverse mortgage is based upon the borrower's age and the equity in the home. A 75-year-old homeowner might receive up to 65 percent of their equity in a reverse mortgage, while a... Read More »
http://www.answerbag.com/q_view/1793453


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