What is the concept of reverse mortgage?

[justin1]

What is the concept of reverse mortgage, and how it would be beneficial for the home owners?

[jourclark]

re: What is the concept of reverse mortgage?

Reverse mortgages are a bit of a niche financial product, as they are only accessible to seniors. The loans can provide some funding for retirement, but the CFPB is looking into the goods to see if any additional legislation could be warranted.

[russelanthony]

Re: What is the concept of reverse mortgage?

In reverse mortgage we can owe a house wothout having any credits. In this no interest payments are required to pay to the borrower. Something like this is held in reverse Mortgage. Thanks

[Dharz]

Re: What is the concept of reverse mortgage?

Reverse mortgages are a bit of a niche financial product, as they are only accessible to senior citizens. The loans can provide some funding for retirement, but the CFPB is looking to the goods to see if any additional legislation could be warranted.

[ashleyjohn]

Re: What is the concept of reverse mortgage?

A reverse mortgage helps seniors borrow money against their home and payment is deferred until the owner dies or the home is sold off.

[josephrichie99]

Re: What is the concept of reverse mortgage?

Reverse Mortgage is a type of mortgage in which a homeowner can borrow money against the value of his or her home. No repayment of the mortgage is required until the borrower dies or the home is sold.