When people talk about reverse mortgages, they seem to think that they are more complicated than they actually are. Well I for one know that a reverse mortgage is simple because I am a financial adviser. So let’s look at the facts for the layman and see how hard it is for someone not qualified in the financial markets to understand the concept. Instead of a remortgage or something similar whereby you have to make regular monthly payments, a reverse mortgage requires no such repayments. Instead the reverse mortgage provider foregoes the repayments in exchange for a higher interest rate and the loan is then terminable on the death of the debtor.

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