There are multiple ways to tap into home equity, including a reverse mortgage, home equity loan or home equity line of credit ...

A reverse mortgage converts home equity on a primary residence into cash or a line of credit. Rather than a homeowner making payments to a lender, the lender makes payments to the homeowner with a ...

“Our goal when we bought this home was that when she turned 62 two years later, we would put that reverse mortgage in place and have that line of credit grow,” he said. “So, when we do turn ...

You can choose between: A lump sum payout and receive the full amount when you close on your reverse mortgage. A line of credit, and rather than receiving monthly payments, you can borrow money as ...

Because repayment is delayed and there are usually no credit score requirements, reverse mortgages can appeal to homeowners who are home-rich but cash-poor or who have spotty credit. But there are ...

You could set up a line of credit to tap into at your convenience. If you still owe some amount on your mortgage, a reverse mortgage can pay off the remaining debt so you no longer owe monthly ...