What is Reverse Mortgage?

Hotline Mortgages15 Apr, 2019Other

If you are contemplating on whether you will have enough to live for by the time you retire, you might be seating right on the answer, to be precise, your house and the equity it holds. But is it really possible to tap to that wealth? The answer is yes. However, this wealth is only usable when you downsize and sell or borrow against the equity of your home. That right there is what is known as reverse mortgage. It is specifically designed for retirees.