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Reverse Mortgages

Reverse mortgages are becoming popular in America. Reverse mortgages are a special type of home loan that lets a homeowner convert the equity in his/her home into cash. They can give older Americans greater financial security to supplement social security, meet unexpected medical expenses, make home improvements, and more.

While these products can be a useful tool, they have characteristics which consumers need to be aware of before entering into such a significant financial transaction.

Read more on the U.S. Department of Housing and Urban Development's (HUD) website: http://www.hud.gov/buying/rvrsmort.cfm

 

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