Reverse mortgages help fixed-income seniors lower their bills.

Taison@12302 Jan, 2020Finance

Designed to assist senior citizens living on limited incomes, Reverse Mortgages enable homeowners who are at least 62 years of age to remain in their home. Instead of making monthly mortgage payments, homeowners actually receive payments secured by the home’s equity from the lender. Thus, it was named a Reverse Mortgage.