What's a Reverse Mortgage?
Contributed by Susie at Financial IQ by Susie Q
Are you or your parents or grandparents looking for ways to stay in your home and use your home equity to fund expenses? A reverse mortgage is certainly one option and it can be a valuable financial management tool for seniors and their families.
However, if misunderstood or misused, borrowers and their heirs can encounter any one of a number of different challenges.
Get the scoop on reverse mortgages so you can make be informed before deciding whether one will work for you!