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A reverse mortgage is a loan against your home that requires no repayment for as long as you live there. In other words, In a normal or regular mortgage, you use debt to turn your income into equity by paying month to month. In a reverse mortgage, you use your debt to turn your equity into income. You reverse the deal you used to buy your home. Next, you had income and wanted equity. Now, you have equity and want income. In both cases you use debt to turn what you have into what you need. For more information regarding reverse mortgages and the other types of loan products, contact 1st MA Mortgages .com
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