Looking for a way to unsaddle yourself from mortgage payments? If you are a homeowner 62-years of age or older, you may be able to qualify for a reverse mortgage, even if you have an existing mortgage on your home. Reverse mortgage loans, formally called home equity conversion mortgages, are based on the equity that is … [Read more...]
Does A Reverse Mortgage Enable The Bank To Take My Home?
With the flood of foreclosures in recent years, it is understandable to be concerned about losing your home if you have a mortgage. However, with a reverse mortgage, your home is protected from foreclosure or repossession by the bank as long as you meet the criteria of the loan. The good news is that is that these … [Read more...]