Reverse Mortgage Payout

Reverse Mortgage Lenders are offering a few different payout option for your Reverse Mortgage.

A reverse mortgage is a type of loan for elder homeowners where the bank sends you a check instead of the other way around (hence the name “reverse”).

With some reverse mortgages, you receive a lump sum of cash upfront or get a line of credit for emergencies.

With other reverse loans, the bank sends you a small check each month. In some cases, these monthly checks keep coming for a specific amount of time - say, 10 years. In other cases, the monthly checks keep coming until you die, move to a nursing home or otherwise leave the property.

You don’t make monthly mortgage payments to the bank when you have a reverse loan.

Instead, you (or your heirs) typically sell the home when you leave it, then pay back all principal and deferred interest in a lump sum.

For more Reverse Mortgage Help visit:
Reverse Mortgage Speclialists
Reverse Mortgage Nation
Reverse Mortgage Marketing