Most people often do not understand what a reverse mortgage is. Well, a reverse mortgage is a type of mortgage wherein a homeowner can acquire money from the bank against the value of their homes. They would receive funds in the form of a monthly payment that is fixed or a line of credit. Repayment of the mortgage isn’t obligatory until the recipient moves away permanently, sells the house or dies. The transaction is structured in such a way that the amount of the loan would not exceed the home’s value over the life of the loan. Learn about insurance…