A reverse mortgage can allow you to tap the equity in your home without having to sell it or take on another loan. Reverse mortgages or HECMs are commonly used by older Americans in retirement. A reverse mortgage can supplement other retirement income from investments and Social Security.
A reverse mortgage may be a way to obtain some extra income, especially if you're elderly or retired. A reverse mortgage lets you get the equity out of your home without having to sell it or take on another loan such as a home equity loan. Learn who might be a good candidate for a reverse mortgage, or HECM.
Reverse mortgages differ from a regular mortgage in that instead of making monthly payments to the lender - the lender makes payments to you.
What are reverse mortgages? How do reverse mortgages work? A reverse mortgage is a mirror image of a regular mortgage.
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