Understanding Reverse Mortgages

Understanding Reverse Mortgages

Most home buyers know what a mortgage is, but what is a reverse mortgage? You’ve heard this term bandied about, and maybe have even seen the late-night TV ads promoting them. But people are often confused or all-out clueless on the details, so allow us to explain.True to its name, a reverse mortgage is the opposite of a traditional loan, where you borrow a couple hundred thousand dollars from a lender and then slowly pay it back month by month—plus interest. In a reverse mortgage, your lender pays you, slowly turning the equity you’ve earned in your home back into cold, hard cash.However, just because you qualify doesn’t mean this loan option is a good idea for you. 


Stephen Crawford Headshot
Author:
Phone: 228-332-2289
Dated: January 25th 2017
Views: 330
About Stephen: ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Our Bloggers

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Crawford Realty Group
112 Court Street
Bay St. Louis, MS
228-533-8637
228-467-4121