Posted on: 06th Jun, 2013 01:48 am
I need to know how a reverse mortgage borrower repays the lender.
Hi Nancy,
If the reverse mortgage borrower follows all the rules and regulations, then he/she won't have to repay the loan. After his/her death, the lender will sell off the property to recover the debt.
Take care
If the reverse mortgage borrower follows all the rules and regulations, then he/she won't have to repay the loan. After his/her death, the lender will sell off the property to recover the debt.
Take care
Actually it is beneficial to senior citizens.
Hi Nancy,
To know all about reverse mortgages, you can check out the given page: http://www.mortgagefit.com/reverse.html .
To know all about reverse mortgages, you can check out the given page: http://www.mortgagefit.com/reverse.html .