What qualifications are there for reverse mortgages for seniors?
There are only a handful of reverse mortgage products -- the most popular of which is FHA's federally insured Home Equity...
Answered -
About Home Equity
Home equity is the financial value of a home, minus the amount that is owed for the mortgage. If the mortgage is entirely paid off, then the homeowner's home equity equals the entire market value of the home. If money is still owed on the mortgage, home equity is equal to the market value of the home minus the amount the homeowner still owes on their mortgage.
Comments