Independent Australian reverse mortgage blog discussing Pros and Cons.
A reverse mortgage is the diametric opposite to the mortgage used to purchase a home. With a “forward” mortgage, the home buyer makes payments to the lender, reducing the debt and increasing the equity; with a reverse mortgage, however, the lender makes payments to the borrower, reducing the equity and increasing the debt.
Like any mortgage, […]
Following the collapse of Money For Living Pty Ltd., reverse mortgages received some adverse publicity, much of it in the form of warnings to consumers to beware jeopardizing the family home. For the most part, this mud slinging was undeserved. Although the two sound similar on the surface, there are several important differences.
The surface similarities […]
