Repaying a REVERSE MORTGAGE
The very nature of a reverse mortgage can be confusing. With a reverse mortgage lenders pay you either monthly or with a lump sum. The following list provides information regarding repayment of a reverse mortgage.
A reverse mortgage comes due when one of the following occurs:
When the reverse mortgage becomes due there are two options for paying it off:
Like all loans, a reverse mortgage does carry conditions in order to remain valid. Below is a list of reasons for which a borrower would find themselves in default:
To apply for your reverse mortgage click here. Advanced Funding, your Utah mortgage broker, is here to help.