Reverse Mortgages: 10 Things You Must Know

Reverse mortgages can be complicated so it’s imperative that you understand how the loan is repaid, the monthly costs and potential scams to look out for.

Get a large wad of cash! Never make a mortgage payment again! Stay in your home as long as you want! Sounds like a great deal, right? Well, for some older homeowners, a reverse mortgage can be. 

For others, it’s more perilous than promising. If you’re considering a reverse mortgage, there’s a lot you need to know before signing on the dotted line. 

Here’s 10 things you need to know about reverse mortgages.