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...]
What Is The Difference Between A Reverse Mortgage And A Regular Mortgage?
Many people have heard of a reverse mortgage and may be wondering what the advantages of these loans are compared to a regular mortgage. Although both loans are labeled mortgages as they use a home as collateral, there are distinct differences between the two. While a regular mortgage has certain credit requirements … [Read more...]