You Still Own The House

This presentation conveys the benefits and options of a reverse mortgage.

The way a reverse mortgage works is that you borrow money using your house as collateral. You maintain ownership of your house and the lender secures a lean against your house. The loan is structured as an interest only loan that does not require monthly payments. The interest accrues each year and ultimately gets paid when you move out of the house. Your house continues to appreciate in market value. At any time, you or your heirs can choose to pay off the loan and keep the house, or sell the house and clear the loan.

No math presented on this screen.