Saturday, 20 October 2012
Introduction to Reverse Mortgage
A type of mortgage that is designed exclusively for the senior bracket is a reverse mortgage. It is only available for people 62 years and older. The reverse mortgage is a loan which is placed on the home equity. It is identified as 'reverse' because it is not like normal mortgages when the property owner receives a lump sum and repays the loan provider for the debt.
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