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What Is Reverse Mortgage Loan

Olga Said:

Is a reverse mortgage a bad loan?

We Answered:

A "reverse" mortgage is a loan against your home that you do not have to pay back for as long as you live there. With a reverse mortgage, you can turn the value of your home into cash without having to move or to repay the loan each month. No matter how this loan is paid out to you, you typically don't have to pay anything back until you die, sell your home, or permanently move out of your home. To be eligible for most reverse mortgages, you must own your home and be 62 years of age or older. More information about reverse mortgages can be found here......

http://reversemortgageresource.blogspot.com



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Charlotte Said:

what is a reverse mortgage loan?

We Answered:

It is a legal way for banks to steal homes. It is a bad idea for most people.

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