According to the Federal Trade Commission, a reverse mortgage works by letting homeowners exchange some of their home equity for cash without selling the home or paying extra monthly bills. The FTC explains that with a r... More » Business & Finance Credit & Lending

The pros of a reverse mortgage include a supplementary income stream that helps seniors stay in their homes and handle emergency expenses, while cons include scams and less home equity, according to the National Council ... More » Business & Finance Credit & Lending

A mortgage calculator prompts a user to enter certain parameters, including mortgage amount, mortgage term, interest rate and start date, as stated by Bankrate. The calculator then computes this data to determine the min... More » Business & Finance Financial Calculations

An equity release mortgage is a loan that lets homeowners tap into their property’s value without having to move out, as the Guardian describes, and it gives them cash based on their home’s equity. The plan targets peopl... More » Business & Finance Credit & Lending

Reverse mortgages are loans that allow homeowners to borrow against the equity in their homes. They receives monthly payments or in some cases a line of credit. Reverse mortgages don't exceed the home's equity. More »

A home equity loan allows homeowners to receive a single payout with a fixed interest rate and monthly payments on the existing equity of their home, states Bank of America. If the loan isn't repaid based on its terms, t... More »

A home equity loan allows a homeowner to receive a cash payment in return for a stake in the value of a specific property. This value is equal to the difference between a property's market value and the remaining mortgag... More » Business & Finance Credit & Lending