Introduction to Reverse Mortgages

Many homeowners have found that a reverse mortgage is a great way for them to take advantage of the equity they have built up in their homes. A reverse mortgage is different than a traditional mortgage. With a traditional mortgage you make monthly mortgage payments, but with a reverse mortgage the lender pays you money through monthly installments or a one-time lump sum payment. The money that you receive is dependant on your age and the value of your home.
	One of the great advantages of a reverse mortgage is that you are not required to pay the loan back until the home is no longer your primary residence. Another great feature of a reverse mortgage is that you can never owe more than the value of your home, no matter what. If you’re aged 62 or older and own your home you might be eligible for a reverse mortgage. Contact us to find out more about reverse mortgages and ways to make it work for you, or apply now and start the process of tapping the equity in your home. Check out these pages for more information about reverse mortgages. 3 Reverse Mortgage questions to consider Are Reverse Mortgages safe? Run the Numbers, Reverse Mortgage Calculator What about repaying a Reverse Mortgage? What are the costs of getting a Reverse Mortgage? Steps to getting a Reverse Mortgage