By Marcie Geffner - Bankrate.com
Reverse mortgage loans allow seniors to borrow against the equity in their home and get a lump sum, line of credit or monthly payments as long as they own and occupy their home. The opportunity is attractive to many.
But is it smart?
The answer depends largely on the homeowner's personal financial situation. What's smart for some might not be so for others. Still, experts say there are many uses that make sense in at least some situations and only a few uses that almost never make sense in any situation.
Read more:
http://www.bankrate.com/finance/mortgages/ways-to-use-reverse-mortgage-1.aspx?ic_id=Top_Financial%20News%20Center_link_2
Reverse mortgage loans allow seniors to borrow against the equity in their home and get a lump sum, line of credit or monthly payments as long as they own and occupy their home. The opportunity is attractive to many.
But is it smart?
The answer depends largely on the homeowner's personal financial situation. What's smart for some might not be so for others. Still, experts say there are many uses that make sense in at least some situations and only a few uses that almost never make sense in any situation.
Read more:
http://www.bankrate.com/finance/mortgages/ways-to-use-reverse-mortgage-1.aspx?ic_id=Top_Financial%20News%20Center_link_2