| Q: | What is a reverse mortgage loan? |
| A: | A
reverse mortgage is a special type of loan available only to equity-rich,
older homeowners. Such owners can borrow against the equity they have built
up over the years, but no repayment is necessary until the borrower sells
the property or moves elsewhere. If the borrower dies before the property is
sold, the estate repays the loan (plus any interest that has accrued.
These loans have become increasingly popular. If you believe you qualify for such a loan, be sure to have the document reviewed by an attorney or another expert. |