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Reverse mortgage facts Reverse mortgages are a special type of loan made to older homeowners. ... Legal Options. Reverse mortgage facts. What is a reverse mortgage? ... can have an existing first mortgage. For a reverse mortgage, the mortgage isn t repayable until the borrower no ... http://www.michigan.gov/ltc/0%2C1607%2C7-148-7484-15272--%2C00.html
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FTC Fast Facts: Reverse Mortgages Fast Facts" from the Federal Trade Commission. Reverse Mortgages. October 1993. If you are age 62 or older and are "house-rich, cash-poor," a reverse mortgage (RM) may be an option to help increase your income. http://www.hsh.com/pamphlets/rms.html
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