What is reverse compounding on a mortgage?

Answer Making payments over and above the minimum required on a standard mortgage can shave years off the length of the loan. The method of estimating the amount of interest saved by making these extra pa... Read More »

Top Q&A For: What is reverse compounding on a 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 is a reverse mortgage and how do I get one?

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 »

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 »

What is the definition of a reverse mortgage?

A traditional mortgage is one in which a bank or other lender purchases your home on your behalf and you pay them back over a period of time. As you pay back the loan, you increase the home equity ... Read More »