Reverse mortgages have become a popular choice among seniors who may be experiencing financial difficulties. Many experts say the product it is a smart option for those with limited alternatives. An online checklist provides a list of tips that may aid in determining if a reverse mortgage is right for you or your family. To be eligible for a reverse mortgage, the applicant must be age 62 or above and have equity in their home. The borrower is still expected to pay taxes and insurance on the home and premiums and closing costs may also be applied. Heirs will also have to buy your property after your death if they choose to keep the home. More here
