Over half a century ago, the very first reverse mortgage was written in order to help a widow stay in her home despite the loss of her husband’s income. In modern day, reverse mortgages still continue to help individuals stay in their home.
The definition of a reverse mortgage is simply a loan, and over the years it has continued to evolve into one of the safest mortgage products on the market today. Backed by federal insurance, thousands of seniors have already enjoyed the benefits of this financial tool.
Read on for more reverse mortgage information, and learn how it can help you live a better life.