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Reverse Mortgage Can Be a Perfect Fix

Reverse Mortgage Can Be a Perfect Fix

This is a discussion on Reverse Mortgage Can Be a Perfect Fix within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Because some fees on a reverse mortgage are fixed, small reverse mortgages are quite costly. Nonetheless, they may be the ...

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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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10-04-2008, 01:36 AM

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Reverse Mortgage Can Be a Perfect Fix

Because some fees on a reverse mortgage are fixed, small reverse mortgages are quite costly. Nonetheless, they may be the best option available in some circumstances. Here is an example:

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