Marlene Graham
Phone
(850) 566-3037
Fax
(850) 893-8254
Office
(850) 385-6685
Toll Free
(800) 741-1739

E-Mail Me

RE/MAX Professionals Realty
2030 Thomasville Rd Ste 3B
Tallahassee, FL 32312



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Mortgage Glossary
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Questions & Answers
Get the answers on home selling and buying.
  Reversed Annuity Mortgages - Q & A
Q:  What is a reverse mortgage loan?
A:  A reverse mortgage is a special type of loan available only to equity-rich, older homeowners. Such owners can borrow against the equity they have built up over teh years, but no repayment is necessary until the borrower sells the property or moves elsewhere. If the borrower dies before the property is sold, the estate repays the loan (plus any interest that has accrued.

These loans have become increasingly popular. If you believe you qualify for such a loan, be sure to have the document reviewed by an attorney or another expert.



 
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