Reverse Mortgage Pros and Cons
The controversial loan product does have sensible uses and lets homeowners enjoy the equity they have built up without selling.
What Is a Reverse Mortgage?
An ordinary mortgage is when you borrow money to buy a home. From the first dollar you pay on the loan principal you start building equity, a fancy term for home ownership. A reverse mortgage is a loan product that generates payments to you based on your home's value and defers loan repayment until you move, sell, or pas...
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