A reverse mortgage or lifetime mortgage are a loan available to seniors, and is used to release the home equity in the property as one lump sum or multiple payments. The homeowner's obligation to repay the loan is deferred until the owner dies, the home is sold, or the owner leaves. A reverse mortgage is analogous to an annuity where the principal and interest are paid with homeowner's equity. Demographics, inadequate retirement funding, and problems in the traditional mortgage market have combined to make marketing of reverse mortgage products to senior homeowners a booming business. The reverse-mortgage-information.org is the best website to check out all information about reverse mortgages. There are various articles in this website which outlines the key facts about reverse mortgages and provides a good starting point for your investigation into this type of loan. The reverse-mortgage-information.org network also provide reverse mortgage calculator for consumers to keep update on their mortgage rates. The site provides you with reliable information that's easy to understand, so that you can make informed decisions quickly and confidently. This gives you the freedom to get the most out of retirement with the fewest hassles. If you want to know more about reverse mortgage check out reverse-mortgage-information.org.
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