Video: How Does a Reverse Mortgage Work?
This video explains how the reverse mortgage process works. If you are interested in learning more, visit http://www.reversemortgage-blog.com or call us at 1-888-808-8486.
- A reverse mortgage allows the borrower to gain access to their home’s equity.
- As long as you continue to live in the home, you do not need to make monthly payments to the lender.
- Just like a regular mortgage, the lender places a lien on the property.
- Once you leave the home permanently, the home can be sold or returned to the bank.
- If your heirs are interested in keeping the home, they can work with the lender to refinance the home.
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