Reverse Equity Mortgage

A reverse equity mortgage is a loan that seniors can get to help them manage their home payments as they age. A person must be 62 years old to qualify for this loan that delays a homeowner's responsibility to pay a loan until after they die. Learn the ins and outs of reverse equity mortgages.

Articles About Reverse Equity Mortgage

Understanding Reverse Mortgages: The Pros and Cons
A financial option for your elderly parents that is becoming increasingly popular is to use the equity from their home to increase their cash flow.

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Q&A with the Experts on Reverse Equity Mortgage

Is a reverse mortgage a good idea for my parents?
For some homeowners, a reverse mortgage may be the best way to provide income or pay off debts. However, senior homeowners do have other alternatives, which may make more sense than a reverse mortgage. Read Jon Beyrer's full answer.
Should dad get a reverse mortgage, or should we give him a personal loan?
Whether your elderly parent should get a reverse mortgage or a personal loan from family depends on the situation.

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News about Reverse Equity Mortgage

Seniors' Home Equity Falls Sharply
Even though senior home prices remain depressed, Americans over the age of 62 still had $3.21 trillion in home equity in the first quarter of 2011, according to the latest NRMLA/RiskSpan Mortgage Market Index. But that's far below peak levels, meaning the elderly have less borrowing power when it comes to home equity loans, lines of credit and reverse equity mortgages. Still many older people are paying down their mortgages anyway.

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