Unlike traditional home equity loans, a borrower does not qualify on the basis of income but on the value of his or her home. (paramounttitlefl.com)
You wont find this feature in a second mortgage or more traditional home equity loans. (mortgageloanplace.com)
The interest rates and fees tend to be higher than with traditional home equity loans, and because a reverse mortgage is open - ended, those fees and interest charges can add up over a long time, leaving you or your heirs with little or no equity left when you finally vacate the home. (mortgageloan.com)