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A reverse mortgage offers you debt free access to home equity. With a reverse mortgage you can:
If you are older than 62, your home equity may be an excellent way to fund your retirement needs. LendingTree can help you find lenders who can help you navigate the complex Reverse Mortgage process and determine if a reverse mortgage is right for you.
A reverse mortgage can help you:
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What is a Reverse Mortgage?
A reverse mortgage allows homeowners 62 years of age or older to use the equity in their homes to eliminate their monthly mortgage payment and/or supplement their income. Unlike a conventional mortgage where a homeowner increases their equity by making a payment each month, ultimately paying off the loan at the end of the term (e.g. 30 years), the homeowner on a reverse mortgage makes no payment. Instead, you receive payments from a lender, allowing you to supplement your income.