What Is Equity

“Equity” is the value you own in a property, such as a house. It’s the difference between what’s owed and what the property is worth in the current market. Read Also: Understanding Seller Disclosures Let’s say you have a house worth three hundred thousand dollars today and you owe the bank two hundred thousand dollars. YourContinue reading “What Is Equity”

What Is a Reverse Mortgage?

A reverse mortgage is a type of loan available to homeowners age 62 years are older. It’s called a reverse mortgage because the lender makes payments to the borrower with a reverse mortgage seniors can convert the equity in their homes into cash. The product was created to help people with limited income use theContinue reading “What Is a Reverse Mortgage?”

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