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Reverse Mortgages Until recently, seniors 62 years of age and older have not had the best of choices when it came to getting cash from their homes. Traditional home loans only offered the option of either selling one's house or borrowing against its equity. Obviously, this meant moving into a new home or taking on monthly repayments; not exactly the most appealing choices for those who have put down permanent roots. Take for example Doug and Sharon Jones, a couple in their late 60's who have called their place home for over 30 years. After nearly 15 years of enhancements and home improvements, Mr. and Mrs. Jones are looking forward to spending the rest of their lives in that house, uprooting is the last thing they want to do. Now, with all of their financial investments behind them, Doug and Sharon have decided they would like to spend some time traveling the world. They are also interested in finding a way to generate extra income in order to supplement their retirement and pay for the cost of prescription medications.
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Mortgage
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