Reverse Mortgage Lender – Who Are They?

August 5, 2009

Author: William M. Davis

Reverse Mortgage
As the name suggests it is just the reverse of a mortgage loan scheme. A reverse mortgage is all about borrowing against your property. A reverse mortgage loan is offered in a variety of ways, either as a lump sum or monthly payments. While in any regular mortgage the loan reduces or the equity increases with every installment being paid. It is the reverse in a reverse mortgage scheme, the debt on the house increases with every payment installment received by the borrower.
The scheme is actually meant for senior citizens who rather intend to release their home equity from …