Personal Finance Guide

Reverse mortgage has steadily gaining popularity among retirees. Many people seek reverse mortgage information to help them with retirement planning. When you plan for retirement, make sure you include reverse mortgage information in your retirement plan. Your Personal Finance guide brings you reverse mortgage information to help you with Financial Planning.

What is reverse mortgage?

A reverse mortgage or a reverse home mortgage lets you tap into the equity of your home. A reverse mortgage is designed for retirees and seniors who may have a lot of their equity tied up in their homes and wish to access it without selling the home. Reverse mortgage income is a great source of supplemental retirement income. There are many reverse mortgage lenders, you can call them for more reverse mortgage information. Info on reverse mortgage is free so make sure you find out as much reverse mortgage information as possible before you sign anything.

Where did the concept of reverse mortgage come from?

The concept of a reverse mortgage was started in France about 100 years ago. Now, reverse mortgage is used in many countries including the US and Canada. In the United States, reverse mortgage has been around for more than 25 years.

How to qualify for reverse mortgage?

Not everyone qualifies for reverse mortgage. In order to qualify for reverse mortgage, you have to be 62 years old or older and own your own home.

Tax on reverse mortgage income

One of the most attractive feature of a reverse mortgage is the fact that you can supplement your retirement income tax free. Find out as much about reverse mortgage information on taxes on reverse mortgage income as you can to take advantage of this tax break for reverse mortgages.

Reverse mortgage catch

There is a reverse mortgage catch. In exchange for the money you receive from a reverse mortgage, you give up part of the equity in your home. You may also have to pay an interest rate for the money advanced as reverse mortgage income. Repayment of the reverse mortgage money is deferred until you sell, die, or permanently move out of your home. If you are married, repayment of reverse mortgage advanced money is deferred until both you and your spouse die. If you are interested in a reverse mortgage, find out as much as you can about

• reverse mortgage information on reverse mortgage interest rates
• reverse mortgage information on deferred payments and when you have to repay your reverse mortgage money

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