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When to Choose a Reverse Mortgage Loan Posted By : Joshua Suffie

Friday, July 4th, 2008 @ 2:52 am | Mortgage



When to Choose a Reverse Mortgage Loan Posted By : Joshua Suffie
If you or your parents own a home and survive on Social Security and possibly a pension, you may think about getting a mortgage called a reverse mortgage. To turn your house into an income, completely tax free, you must be at least 62 and a homeowner with some equity available to be turned into that income. Making this system work does not mean giving up living in our home. The title of the house remains exclusively yours and you will not have a new mortgage payment to pay.

 

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