For a free consultation with a professional loan officer, call 877-324-1354 extension 2249
Mention "V.A.L" for $250 off closing fees.


My Mortgage Home Loans © 2003
All Rights Reserved

Reverse Mortgage

A reverse mortgage is a unique form of home loan that is not unlike a home equity loan. A reverse mortgage basically allows homeowners to transfer their home’s equity into cash whilst utilizing various payment options that best address their financial needs. Whereas with a conventional home equity loan, borrowers qualify based somewhat on their income, a reverse mortgage allows borrowers to qualify based on the value of their home. Another difference lies in the fact that reverse mortgagees have the length of time with which they occupy the property, to pay the mortgage off. Reverse mortgages, also referred to as home equity conversion mortgages, can offer attractive benefits to elder homeowners who might have accumulated a great deal of equity in their home.

---

What are the important mistakes to avoid in
> GETTING A HOME EQUITY LINE OF CREDIT <

---