As a homeowner, there are lots of ways to access your home equity. You can take out a home equity loan or HELOC, apply for a cash-out refinance, or — if you’re a senior — get a reverse mortgage. Reverse mortgages are a unique option because they require no monthly payments. Instead, you receive payments
A reverse mortgage can be an appealing option for senior homeowners looking to boost their income. Today, reverse mortgages have shed their shady reputations from years ago and are government-backed loans well worth considering. However, with potentially high fees and stout interest charges, shopping for the best reverse mortgage company is more important than ever.
A reverse mortgage is a type of home loan for older homeowners who have significant equity in their property. Rather than making monthly mortgage payments to a lender every month to pay down your balance, the reverse mortgage lender sends you payments as you tap your home’s equity. It can be a good source of