3 Things To Know About Reverse Mortgages
If you are looking for a way to make your home's equity work for you, a reverse mortgage may be the right option. When you take out a reverse mortgage, payments are made to you instead of you making payments to your lender. You are borrowing from your home's equity, usually in the form of monthly payments or a lump sum. Reverse mortgages are an excellent way to pay for medical costs or supplement your income during retirement.