Reverse Mortgages: 10 Things You Need to Know

Although people do their best to plan for retirement, some people fall short of their savings goal. If you are age 62 or older and find yourself in this situation, a reverse mortgage could help you take advantage of the resources you already have in place. If you have never heard of a reverse mortgage, there are a few things to consider. Reverse mortgages are FHA approved, it eliminates your current mortgage and payment, you retain title of your home, you choose how the money is distributed, and there are no mandatory repayments. There are requirements in order to qualify for a reverse mortgage so be sure to check with your lender. Read the full article here: http://www.zillowblog.com/2013-05-15/reverse-mortgages-10-things-you-need-to-know/