What is it?
A reverse mortgage is a loan that uses the equity on your home as collateral. You receive monthly payments and repay the loan, plus interest, when you sell your home.
When is it a good idea?
If you already own your home (or your regular mortgage payments are relatively low), a reverse mortgage can be good way to cover expenses or generate extra income at any age, especially in retirement.
"Minutes. That's all it took to protect my husband and two children from a lifetime of unnecessary struggle. Thanks, FamilyWise."
- Elise, 28 years old, created a will in minutes