how a reverse mortgage work - z reverse mortgage
TRANSCRIPT
Reverse mortgage and forward mortgage are same in one prospect that you borrow from a lender, but reverse mortgage is different from the forward mortgage in term of payment, you steadily owned the home equity as pay the principle and interest.
ZReveseMortgage.com
ZReveseMortgage.com
The reverse mortgage works contradictory, but it is very important to know that How a Reverse Mortgage Work, instead, to make payment to the lender, a lender make payment to you, based on a percentage of the value in your home. You can choose whether the cash is paid to you as a single lump sum amount, regular monthly cash, a line of credit or a combination of these methods.
As the loan will progresses, your debt increases while your home equity decrease. When you will move, sell the home or pass away, the lender will sell your home and to recover the money and the balance amount will be goes to you or your heirs.
ZReveseMortgage.com
