Home Home Search Buyers Sellers Blog About Us Contact Us Extras
 

Reverse Annuity – Q & A

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.

© 1999 Inman News. All Rights Reserved

Email “TOP” – Indianapolis Real Estate Agent
Or Call (317) 823-8000

 
 
   
Search For Homes Featured Listings Virtual Tours New Listings Notification Loan Prequalification Order Your Eligibility Certificate Services for Home Buyers First Time Buyers Owning Your Home New Construction Investing In Real Estate Your Mortgage Community Information What's Your Home Worth Services For Home Sellers About Gene Tumbarello Nominate a Hoosier Hero Memorial Day Tribute Public Service Announcement Video Preferred Partners