A reverse mortgage is a home loan, usually safeguarded by a residential property, that allows the debtor to access the unencumbered value of the building. The financings are typically advertised to older home owners and also normally do not require regular monthly home mortgage payments.
A monetary contract in which a homeowner relinquishes equity in their home in exchange for regular payments, usually to supplement retirement income.
" unlike traditional home loans, which decrease as you ... Read this article | User's blog