What Does Non-Recourse Reverse Mortgage Mean?
One of the features of reverse mortgage that senior borrowers do not often understand is that it is a “non-recourse loan.” This term is perceived negatively and brings unease to the homeowners when this is initially explained. The fact is that a non-recourse loan actually provides security to the borrower regarding the collateral.
Are There Any Dangers On Reverse Mortgages?
You may be considering it for a time now but are afraid because some are telling about the dangers of reverse mortgages that can be placed on you once you avail them. But are these dangers have basis? Or these are simply dangers that you should not mind because the benefits are just too good to ignore?
Reverse Mortgages: The Advantages To Your Lifestyle
If you have been working hard all of your life, don't you think you get to reap the rewards now? If you have invested into your property, specifically your home, because of that hard work you can use it now to your advantage by making it pay you back. How? Through reverse mortgages.