chrismackenzie
06-08-2009, 09:33 PM
Want to convert your home value into cash? Reverse mortgage can let you achieve this without having to leave your home or pay monthly loans! Visit the links below.
Roger_Silvester
07-13-2009, 03:59 AM
Cant see any links in your post.
As far as my knowledge is concerned, a reverse mortgage is a special type of home loan that lets you convert a portion of the equity in your home into cash. The equity that built up over years of home mortgage payments can be paid to you. But unlike a traditional home equity loan or second mortgage, no repayment is required until the borrower(s) no longer use the home as their principal residence. FHA's HECM provides these benefits. You can also use a HECM to purchase a primary residence if you are able to use cash on hand to pay the difference between the HECM proceeds and the sales price plus closing costs for the property you are purchasing.