Who are reverse mortgages designed for?

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Reverse mortgages are designed for people advanced in age and holding some kind of property. Such people can reverse mortgage their properties to a bank and get the property's value and still continue using that property for a period mutually ascertained.

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Hi, Call me to discuss. Brian, Metlife - 754-234-9559

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The benefit of reverse mortgages is that they allow seniors to get extra tax free income. So, no, you will not have to pay taxes on the money you get from the reverse mortgage. http://www.articleinsider.com/mortgage/massachusetts-mortgages/reverse-mortgages

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