Considering a Reverse Mortgage? 4 Things to Consider First.
A reverse mortgage allows homeowners to access home equity without monthly payments, but it's not without risks.
Overview
A reverse mortgage is a loan that allows homeowners to convert part of the equity in their property into cash. No monthly principal or interest payments are due as long as you live in the home and meet all loan obligations.
However, the cost can be prohibitive. Before agreeing to a reverse mortgage, keep these factors in mind.
Details
Not all reverse mortgages are the same. In fact, there are several versions, and each operates in its own way.
Source
Originally published at www.fool.com.
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