|
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
|
 |
