A reverse mortgage:
A) Allows you to live in your house and have access to the equity
B) Is a fixed rate mortgage
C) Is only available to those 62 years of age and older
D) Allows you to live in your house and have access to equity AND is available to those 62 years and older

Question

Quizplus · Accepted Answer

A reverse mortgage allows the borrower to stay in their home while gaining access to the equity they have built up over time. It is only available to those who are 62 years or older. It is also important to note that reverse mortgages tend to have variable interest rates, not fixed.

A Reverse Mortgage