Reverse mortgages:

Question

Reverse mortgages:

Quizplus · Accepted Answer

Reverse mortgages are suitable for older people who have a substantial amount of equity in their family home but little disposable income. This type of mortgage allows them to access the equity in their home, which can be used to supplement their income, pay for healthcare expenses, or cover other costs. It is not suitable for those who have a large amount of borrowings on their family home, as this would not leave enough equity to borrow against. It is also not suitable for those with surplus disposable income, as they may not need additional funds from their home equity.

Reverse Mortgages