WHAT: A reverse mortgage is a loan available to homeowners 62 of age and older that allows them to convert part of the equity in their homes into cash without selling, giving title or take on a new monthly mortgage payment.
WHERE: The equity can be used as a lump sum payout, a line of credit, or even as a monthly payment to you!
WHOM: Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income.
HOW: The loan is called a reverse mortgage because instead of making monthly payments to a lender, as with a traditional mortgage, the lender makes payments to the borrower.
SOLUTION TITLE AGENCY has infused time in prospering " REVERSE MORTGAGE DIVISION."