What is a reverse mortgage?
Reverse mortgage- a homeowner, usually elderly, borrows money in the form of payments against the equity of the home.
Answered
by Khrysti P.
-
Older Answers
A special type of home loan that lets you convert a portion of the equity in your home into cash.
Answered by Danon H. -
A reverse mortgage is a loan available to seniors, and is used to release the home equity in the property as one lump sum or multiple payments. The obligation to repay the loan is deferred until the owner dies, the home is sold, or the owner leaves.
Answered by Jonathan B. -
A reverse mortgage is a unique loan available to those 62 and older. It allows the homeowner to take part of the equity in MORE?
Answered -
Reverse mortgages are most expensive in the early years of the loan, and then become less costly over time. ChaCha on!
Answered -
A grade of mortgage between prime and subprime. For another, there are two ways to count them.
Answered by Paula R. -
-
What is the difference between a mortgage and a house payment?
There is no difference, they are the same thing. Cha Cha on!
-
What is an adjustable-rate mortgage?
A mortgage is a loan to finance the purchase of real estate, ...
-
In the US: 1. The $8,000/$6,500 tax credit that recently expi...
-
What would be the monthly payment on a $140,000 30 year fixed mortgage at 4% interest?
The monthly payment on a $140,000 loan with a 30 year fixed r...
-
Debt-to-income ratio, which breaks down to front end ratio (h...
-
In the US: 1. The $8,000/$6,500 tax credit that recently expi...
-
Why might a consumer choose an adjustable rate mortgage over a fixed rate mortgage?
An adjustable rate mortgage, called an ARM for short, offers ...
-
What type of mortgage loan has a fixed rate, fixed term and fixed payment?
A Conventional Loan has a fixed rate and fixed payment. ChaCh...
-
What is a mortgage used to purchase?
A mortgage is a type of loan used to purchase property. In or...
-
What are the payments on a 600,000 mortgage at 5 % interest for 30 years?
Monthly payments on a $600,000 mortgage with 5% interest rate...
-
How much would the monthly payments be on a mortgage of 100k?
The monthly payments will depend on the interest rate, the do...
-
Debt-to-income ratio, which breaks down to front end ratio (h...
-
In the US: 1. The $8,000/$6,500 tax credit that recently expi...
-
What type of mortgage loan has a fixed rate, fixed term and fixed payment?
A Conventional Loan has a fixed rate and fixed payment. ChaCh...
-
What does emc stand for in emc mortgage?
You can contact EMC Mortgage Corp at (800) 695-7695 for non-m...
-
A form of debt in which one can own property by paying the en...
-
What is the difference between a mortgage interest rate and a APR?
APR determines the percentage of interest one pays to the len...
-
A 'mortgage broker' is a person or organisation offering to o...
-
What is the mortgage relief bill?
A bill meant to help homeowners caught up in the spreading mo...
-
What does subprime mean in the mortgage industry?
Subprime lending lends to those who do not qualify for 'prime...
-
What is the average payment on a 125000 mortgage?
The payment depends on the amount of interest and how much yo...
-
How does reverse compounding work for a mortgage?
Reverse compounding is when you pay extra on your mortgage ea...
-
A form of debt in which one can own property by paying the en...
-
Mortgage insurance is policy that provides protection for the...
-
What is the definition of fixed rate mortgage?
Fixed-rate mortgage is a home loan in which the interest rate...
-
A form of debt in which one can own property by paying the en...
-
What does subprime mean in the mortgage industry?
Subprime lending lends to those who do not qualify for 'prime...
-
What is the lowest mortgage rate on a 30 year fixed in history?
The lowest 30-year fixed rate ever recorded was 5.21 percent ...
-
What are the mortgage rate for a 30 year fixed?
Mortgage rates on 30-year fixed mortgages in the US rose 4 ba...
-
What is todays' mortgage rate?
Today's rates on a traditional 30 year mortgage is 5.06 %. Th...
About Mortgage
A mortgage is a loan that is secured by a property/house and is paid in installments over a set period of time. For buying homes, mortgage loans are used almost always around the world, only in rare cases are cash or other forms of credit used for payment. The word mortgage comes from a Law French term meaning ''dead pledge.'' This means the pledge ends when the obligation is fulfilled, or the property is taken through foreclosure.
Comments