SJS Ghana Blog

For some people know, a reverse mortgage which is also called a lifetime mortgage is a kind of loan available to seniors, and is used to release the home equity in the property as one lump sum or multiple payments. The homeowner’s obligation to repay the loan is deferred until the owner dies, the home is sold, or the owner leaves (e.g., into aged care). A reverse mortgage is analogous to an annuity where the principal and interest are paid with homeowner’s equity.

Before you are getting through this, you must know first if a reverse mortgages a wise choice for you. I know one website who can guide you regarding this, at the same time offers reverse mortgage calculator for you. They are the reverse mortgage information website dedicated to providing homeowners with the tools, news and other reverse mortgage information resources needed for to make an informed decision. They are an independent site not affiliated with reverse mortgage lenders or brokers. The views and opinions expressed are theirs alone and do not constitute financial advice. You should always seek competent professional assistance when making important financial decisions.