answersLogoWhite

0


Best Answer

A reverse mortgage is a special type of home loan that allows homeowners to turn equity into cash. You can get one from your local bank or online via mortgage lenders.

User Avatar

Wiki User

10y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Please tell me what a reverse mortgage is and who is eligible for them?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What reverse mortgage calculator is the best one?

Opinions vary about which reverse mortgage calculator is the best, but a very good one is the AARP Reverse Mortgage Calculator. It provides estimates for two different reverse mortgage programs to tell you how much money you might receive under the plan.


Do you know of a good reverse mortgage counselor?

I would suggest you try One Reverse Mortgage. Try the company and tell me how you like it. I would suggest them, because they are easy to contact. Log on to their website and try to contact them.


Is B-Tech holders eligible for UGC-Net?

Is net is also for b.tech. Degree holders. If so please tell its criteria ..


How do you use reverse phycology to get her to want me again?

If a she no longer want a he and the he still wants the she, there are three directions that he can go. One: The direct approach. Tell her that you want her; tell her how much you want her; say please, please, please, please... Two: The indirect approach (reverse psychology). Ignore her; don't talk to her; don't call (text or email) her; don't talk to your friends about her; don't talk to her friends about her. Three: Determine what it is that you do to make her not want you anymore, and modify your behavior accordingly.


How can one use the BBC mortgage calculator?

To use a mortgage calculator, you type in the length of your mortgage, the amount of principal that you owe, and your mortgage rate. It will then tell you what your payments will be.


Can a loan calculator tell me if I am eligible for a loan?

There are calculators out there in the internet that can tell you if you are eligible for a loan. One calculator that is reliable is http://www.hdfc.com/applications/calc_ComputeLoanEligible.asp


What is the statute of limitations on second mortgage in CA?

A second mortgage is not included in a Statue of Limitation law. Explain more about your first mortgage, and I will be able to tell you what will happen to your second mortgage.


UK mortgage question I just wondered if you could tell me what proportion of the UK population have an interest only mortgage because they cannot afford the monthly mortgage repayments associated with?

US Mortgage design


Is the payment you receive in a reverse mortgage taxable?

I am a HUD counselor and I can tell you will 100% certainty that it is NOT taxable. At some point your HECM loan will be paid. For this reason, the money you are receiving is a "loan". IRS does not classify it as income. 1. Commonly Asked Questions (FAQ) Frequently Asked Questions (FAQ) are rife in most online sites. Seniors can also take the option of seeking the assistance of a social security adviser or even a financial consultant for advice. While on liberty reverse mortgage website, you can also take advantage of informative pages ranging from reverse mortgage to senior activity ideas to help in making the plan a reality in the not-so-distant future.


Where can one find a rbc mortgage calculator?

The RBC mortgage calculator can be found on their website. The calculator will tell you how much your monthly mortgage payments will be. You can also go to your local RBC branch and speak with a mortgage broker.


What does the color on the canadian flag mean can you please tell my. i beg you to tell my. please please please please?

It means americans have extra chromosomes


What is the computer impact on crime?

can you please tell me impact of computer on crime? can you please tell me impact of computer on crime? can you please tell me impact of computer on crime? can you please tell me impact of computer on crime?