Who Benefits From a Reverse Mortgage?

Answer A reverse mortgage is a home-loan option available for senior homeowners. The reverse mortgage is generally repaid with the home equity that has built up when you sell your home, move out or pass a... Read More »

Top Q&A For: Who Benefits From 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 »

How do i add a second name to a reverse mortgage?

EligibilityDetermine the second person's eligibility before starting the process to add him to the reverse mortgage. A reverse mortgage is a federal program, and like all federal programs there are... Read More »

What are the pro's and con's of a reverse mortgage?

Well, hope you are sitting down......First, ALL borrowers (usually the husband and wife - ALL parties on title) must be 62 or older. If the parents put the son (Johnny) on title, they need to have... 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 »