REVERSE
MORTGAGES EXPLAINED
REVERSE MORTGAGES ONLY offers a full-range of reverse
mortgage products, including Home Equity Conversion
mortgages (HECM), Fannie Mae Homekeeper mortgages and
Financial Freedom Cash Account mortgages.
What is a Reverse
Mortgage?
A Reverse Mortgage is a special type of home loan that
enables a senior homeowner 62 and older,
to access a
portion of their equity, tax-free, based upon their age,
home value and current interest rate. No loan repayment
is required as long as homeowner occupies the home as
their primary residence. A portion of your homes equity is converted
into cash which can be received as monthly income, a
line of credit or a lump sum.
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