Reverse Mortgage – Learn From America’s Leading. – Reverse Mortgage Guides is a reverse mortgage educational website. Our goal is to help explain many of the pros and cons of a Home Equity Conversion Mortgage (HECM) for homeowners.
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Guilford Savings Bank – Reverse Mortgages – Reverse mortgages are designed for homeowners age 62 or older who wish to take advantage of the equity in their home, while occupying it as a primary residence.
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A reverse mortgage is different than a traditional, or "forward," loan in that it operates exactly in reverse. The traditional loan is a falling debt, rising equity loan while the reverse mortgage is a falling equity, rising debt loan.
A reverse mortgage is a type of loan that’s reserved for seniors age 62 and older, and does not require monthly mortgage payments. Instead, the loan is repaid after the borrower moves out or dies.
Reverse mortgage – Wikipedia – A reverse mortgage is a mortgage loan, usually secured over a residential property, that enables the borrower to access the unencumbered value of the property.