What is a Reverse Mortgage?

Reverse Mortgages were created specifically for Senior Homeowners who own their home outright, or owe little on it. These Seniors may use the extra cash for living expenses - or to just improve the financial quality of their lives.

A Reverse Mortgage is a home loan for Seniors that does not have to be repaid for as long as they continue to live in their home - a Reverse Mortgage is a home loan that requires no monthly mortgage payments - and, a Reverse Mortgage is a home loan that can be structured in a variety of ways.

For example, you can receive a lump sum of cash for any purpose. Or, you can obtain an available line-of-credit that lets you decide how much of your equity to use and when to use it. Or, you can receive monthly income for life - or for whatever term you decide. Or, you can choose any combination of these flexible cash-advance options.

For older Homeowners, a Reverse Mortgage can satisfy a variety of needs. You can use the money to payoff debts, deal with financial emergencies, travel, increase your monthly income, pay for home improvements, help your children or grandchildren, or establish a cash reserve for future needs. There are many Reverse Mortgage possibilities.

How Does A Reverse Mortgage Work? Your Personal Reverse Mortgage Analysis Home Page