Rate 1 Mortgage
Home   First Time Buyer   Buying A Home   Mortgage   Mortgage Refinance   Govoernment Programs FHA Refinance   Home Affordable Refinance Program or HARP   Reverse Mortgage  Mortgage Refinancing Advice  12 Common Mistakes Home Buyers Make  HARP Refinance  Conventional Refinance  Cash-Out Refinance  USDA Streamline Refinance  VA Streamline Refinance  Select Your Mortgage

Reverse Mortgages

Most reverse mortgages require you be at least 62 years of age, have a low or zero balance owed against your home and maintain the property as your principal residence. Reverse mortgages are ideal for homeowners who are retired or no longer working and need to supplement their income. Interest rates can be fixed or adjustable and the money is nontaxable and does not interfere with Social Security or Medicare benefits. Your lender cannot take property away if you outlive your loan nor can you be forced to sell your home to pay off your loan even if the loan balance grows to exceed property value.
 

Copyright@ 2018 rate1mortgage.com