A
reverse
mortgage
is a
special
type of
loan
available
only to
equity-rich,
older
homeowners.
Such
owners
can
borrow
against
the
equity
they
have
built up
over teh
years,
but no
repayment
is
necessary
until
the
borrower
sells
the
property
or moves
elsewhere.
If the
borrower
dies
before
the
property
is sold,
the
estate
repays
the loan
(plus
any
interest
that has
accrued.
These
loans
have
become
increasingly
popular.
If you
believe
you
qualify
for such
a loan,
be sure
to have
the
document
reviewed
by an
attorney
or
another
expert.
