In 2005, the client purchased a home in the Foxfield at Naaman’s Creek community in Garnet Valley, Penn. with a traditional mortgage. In 2011, the owner obtained a reverse mortgage on the property ...

Reverse mortgages allow homeowners to tap into the equity they’ve built up in their homes without having to make monthly payments.

We independently evaluate all of our recommendations. If you click on links we provide, we may receive compensation. Lars Peterson joined Investopedia in 2023 as a senior editor of financial product ...

After years of high borrowing costs, many older homeowners are considering the idea of tapping into their home equity to borrow money right now. And, while there are a number of affordable ways to do ...