* Reverse Mortgages Information (pros and cons)

Reverse mortgages are available to any person over the age of 62 who has enough equity for the bank to profit.
Instead of making monthly payments to the lender, the lender makes monthly payments to the borrower for as long as the borrower resides in the home. The interest rate can be fixed or adjustable, and when you Die the Bank get the asset, so really its a hedge bet, that there will plenty of Equity for the Bank to make a good profit as a person still Has to Qualify for the Loan. Some (families) people (parents) actually talk to the would be beneficiaries, and come to an agreement that long term its not worth it.