Reverse Mortgages

A reverse mortgage is a home loan that allows the owner to convert the equity into money. The loan doesn’t have to be repaid as long as the owner continues residing in her home. The amount of loan you can borrow heavily depends on three factors: (1) your age, (2) the interest rate, and (3) the value of your home. So, if you’re in need of money, tap at your home’s equity and convert it into cash. With a reverse mortgage, you basically get a loan you don’t have to repay.