What is the modified tenure payment option in a reverse mortgage?

Reverse mortgages allow older people to immediately access the equity they have built up in their homes, and defer payment of the loan until they die, sell, or ... The loan amount may be used by the Senior Citizen borrower for varied purposes including up-gradation/ renovation of residential property, medical exigencies, ... What is a Reverse Mortgage? • Home Equity Conversion Mortgage (HECM):. Borrower gets cash in exchange for home equity. (Equity is the value of your ownership. Talk to one of our reverse mortgage advisors. They will help you understand how much you can expect to get and answer any questions you may have. This complete guide to reverse mortgages will walk you through everything you need to know about this unique financial tool. We are proud to be America's leading HUD-approved reverse mortgage lender, consistently achieving a stellar 4.99/5 star rating for our impeccable service. Contact a mortgage specialist for more details, 801-786-8400. Find a Reverse Mortgage Seminar Near You. Talk to a Mortgage Expert today! A reverse mortgage is a loan that allows homeowners aged 62 and over to borrow against the equity in their homes. Reverse mortgages work by allowing homeowners to tap into their home's equity while continuing to reside there well into retirement years. A counselor will explain how reverse mortgages work, including how you can access your equity, costs, tax implications, benefits and drawbacks.