Reverse Mortgage

Reverse mortgage is a type of loan that allows homeowners who are 62 years of age or older to convert a portion of their home equity into cash. Unlike traditional mortgage loans, the borrower does not make monthly payments on a reverse mortgage. Instead, the loan balance is paid off when the borrower sells the home or passes away. Reverse mortgages can be obtained from a variety of lenders, including banks, credit unions, and mortgage brokers. If you have any further questions or would like more information, please let us know.