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Home Equity Conversion Mortgage Insurance Demonstration: Interim Report to Congress
Paperback
Publisher Price: $24.75
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ISBN10: 1288926510
ISBN13: 9781288926510
Publisher: Bibliogov
Published: Mar 14 2013
Pages: 216
Weight: 0.87
Height: 0.46 Width: 7.44 Depth: 9.69
Language: English
ISBN13: 9781288926510
Publisher: Bibliogov
Published: Mar 14 2013
Pages: 216
Weight: 0.87
Height: 0.46 Width: 7.44 Depth: 9.69
Language: English
Reverse mortgages are intended to assist elderly homeowners who are house-rich and cash-poor to tap the equity in their homes without moving and selling. With a reverse mortgage, an elderly homeowner is able to receive payments from a Lender that do not have to be repaid until the homeowner chooses to move or dies. The lender is repaid from proceeds from the sale of the property, with any proceeds in excess of the amount needed to pay off the mortgage going to the borrower or the borrower's estate.
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