Reverse Mortgages

Reverse Mortgages is a loan made to borrowers who have considerable equity in a property but have limited or restricted income to repay the loan. The interest simply compounds or grows over time as the borrower is not required to make any loan repayments. The loan is eventually repaid from the sale of the property following the death of the last borrower. There are special conditions attached to these loans and example being minimum age of borrower 65 and maximum loan 20% of asset value.