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What Is a Reverse Mortgage | How Does It Work in Simple Terms – A reverse mortgage is a loan for senior homeowners that allows borrowers to access a portion of the home’s equity and uses the home as collateral. The loan generally does not have to be repaid until the last borrower no longer occupies the home as their primary residence. 1 At that time, the estate has approximately 6 months to repay the balance of the reverse mortgage or sell the home to.

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"A simple, easy-to-use guide to reverse mortgages for seniors and their families Reverse Mortgages For Dummies provides readers with the information they need to determine if a reverse mortgage is right for their situation and if so, how to go about securing one.

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