Hai,

I am Rukitamo.

A reverse home mortgage is a loan instrument that allows Senior Citizens (age 62 or older) to borrow money against their home's equity. You can get this money in a lump sum, a line of credit or monthly installments. How much money you can borrow depends on your age and the value of the equity in your home. The HUD site Reverse
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Info has a lot of information and a mortgage calculator you can use to figure out how much money you can borrow. The regulators seem to have taken much of the risk out of the system, for instance, you never have to pay the loan off until you're done with the house, so, you can't lose the house for missing a payment. The amount you can borrow with FHA approval is also set so low that you're not at risk of running out of equity before you no longer need the home. I know, this sounds like the other sites...all upside. I'll get to the downside when we discuss the costs. Even with high costs, the reverse home mortgage can solve a financial problem common to many seniors. To help you get more info, here are the latest, top-selling books on the
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