Open Question: Anyone know anything about reverse mortgage?

[David Devis]

hello.. the simple meaning of Reverse mortgage is a funding option that gives senior citizens a payout now without a mortgage payment... it is only good for older people with lots of equity and no money, you can get a monthly check for living expenses but you are pissing away the money "Saved" in the equity in the house, when you die, there will be less equity that your children or other descendents can cash out...

[hardikvagadiya@gmail.com]

Well Every one has a nice understanding on Reverse Mortgage but one of the best Definition is as following;
"A reverse mortgage is a loan available to seniors, and is used to release the home equity in the property as one lump sum or multiple payments."

[chris krean]

HECM Saver provides a great solution for most - they pay less upfront for the reverse mortgage , because of reduced fees and reduced private mortgage insurance

[victoria stiles]

As many consumers are aware, reverse mortgages have been widely criticized. Before getting a reverse mortgage, seniors should take advantage of all the reverse mortgage information available to them.

[martha jones]

A reverse mortgage is a loan that converts a portion of the equity in one's home into cash. Getting a reverse mortgage is a a big decision. A reverse mortgage calculator can be used to calculate that how much cash a borrower would be eligible to receive through a reverse mortgage.