What Are The Eligibility Requirements For A Reverse Mortgage

What Is a Reverse Mortgage | How Does It Work in Simple Terms – A reverse mortgage is a loan for senior homeowners that allows borrowers to access a portion of the home’s equity and uses the home as collateral. The loan generally does not have to be repaid until the last borrower no longer occupies the home as their primary residence. 1 At that time, the estate has approximately 6 months to repay the balance of the reverse mortgage or sell the home to.

Reverse Mortgage Loan Rules & Requirements (2017) – Once you satisfy these eligibility requirements and after you obtain a reverse mortgage, you still have obligations to uphold. In order to enjoy all the features of a reverse mortgage loan, and ensure that you do not default on the loan, you are responsible for:

Reverse Mortgage In Pa The Newtown, Pennsylvania-based lender has a small team dedicated to growth in the reverse mortgage space and says the hire will help boost its presence in the market. “We hire people for their.