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What is a Reverse Mortgage?
A Reverse Mortgage is a type of mortgage where the loan amount is not repaid as long as you are living in your home. The loan is only repaid when the borrower dies, permanently moves out of the home, or if the house is sold.
Who is Eligible?
Why Should I Consider a Reverse Mortgage?
Common reasons for considering a Reverse Mortgage include:
How Does My Equity Get to Me?
Proceeds of the loan can be paid in several ways:
What Else Do I Need to Know?
CESI Counselors Offer:
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Consumer Education Services, Inc. (CESI) is a non-profit service provider of comprehensive personal financial education and solutions for all life stages and for all of life’s milestones. Our goal is enhanced economic security for everyone we serve.
CESI is NOT A LOAN COMPANY