When.com Web Search

Search results

1. Results From The WOW.Com Content Network

2. What is a reverse mortgage? How it works, who it’s best for ...

   www.aol.com/finance/what-is-a-reverse-mortgage...

   How to qualify for a reverse mortgage. To qualify for a reverse mortgage, you must meet the following requirements: Age 62 or older. Outright ownership of your home or a low-balance mortgage

3. Reverse mortgage pros and cons: What every senior should know

   www.aol.com/finance/reverse-mortgage-pros-cons...

   Keep the property and refinance the reverse mortgage balance if the property’s value is sufficient. Allow the lender to assume the property’s title if the debt exceeds the property’s value ...

4. Reverse mortgage - Wikipedia

   en.wikipedia.org/wiki/Reverse_mortgage

   A reverse mortgage is a mortgage loan, usually secured by a residential property, that enables the borrower to access the unencumbered value of the property. The loans are typically promoted to older homeowners and typically do not require monthly mortgage payments.

5. How do you pay back a reverse mortgage? - AOL

   www.aol.com/finance/pay-back-reverse-mortgage...

   If the borrower’s heirs want to keep the home, they can simply take out a new mortgage on the house to pay off the balance of the reverse mortgage. This is much like refinancing the loan as the ...

6. Reverse mortgage: What it is and how it works - AOL

   www.aol.com/finance/reverse-mortgage-works...

   The most common type of reverse mortgage is a Home Equity Conversion Mortgage (HECM), for borrowers ages 62 and older. Some reverse mortgage lenders offer other options for borrowers ages 55 and ...

7. Unpaid principal balance - Wikipedia

   en.wikipedia.org/wiki/Unpaid_principal_balance

   Unpaid principal balance (UPB) is the portion of a loan (e.g. a mortgage loan) at a certain point in time that has not yet been remitted to the lender. [1]For a typical consumer loan such as a home mortgage or automobile loan, the original unpaid principal balance is the amount borrowed, and therefore the amount the borrower owes the lender on the origination date of the loan.

8. Reverse mortgage requirements - AOL

   www.aol.com/finance/reverse-mortgage...

   A reverse mortgage is not free money — interest and fees will be added to your mortgage balance each month. That means the amount you owe on your mortgage will go up.

9. Reverse Mortgage: How Does It Work? - AOL

   www.aol.com/reverse-mortgage-does-164234216.html

   A reverse mortgage allows... For many retirees, their largest asset is their home -- but they might not be ready to sell to cash in on their equity. That's where a reverse mortgage can come into play.