These mortgages are not for everyone. Ideal for a cash strapped elder who wants to stay in their home!
With reverse mortgages, you borrow against the equity in your home and the money does not have to be paid back until you die or want to move.
The reverse mortgage is not for everyone. So who should consider one?
WBZ’s Dee Lee discusses reverse mortgages and finding a financial planner in today’s Money Matters segment.
Just as the name implies a reverse mortgage works in the reverse way a usual mortgage works.