Reverse Mortgage

Abstract

The author discusses facts and transaction specifics of reverse mortgages. Topics include how reverse mortgages allow the conversion of home equity into cash, the importance of fulfilling all obligations such as existing mortgage and credit card bills prior to application, and the factor of life expectancy, similar to insurance policies, on reverse mortgages. Other topics include the Grand Recession, budgeting, bankruptcy, and the qualifications needed for applying for this type of loan.