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Reverse mortgages getting more popular in tough economy (Seattle

Reverse mortgages getting more popular in tough economy (Seattle

This is a discussion on Reverse mortgages getting more popular in tough economy (Seattle within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Reverse bmortgages/b allow homeowners 62 or older to borrow up to $417000 of their home's equity to use any way ...

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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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12-09-2008, 12:40 AM

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Reverse mortgages getting more popular in tough economy (Seattle ...

Reverse bmortgages/b allow homeowners 62 or older to borrow up to $417000 of their home's equity to use any way they wish. They don't have to repay it as long as they stay in the home.

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economy, mortgages, popular, reverse, seattle, tough

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