The homeowner gets reverse mortgage funds in a lump sum, in monthly advances, through line of credit, or in combination of the above depending on the type of reverse mortgage. (badcreditloanservices.com)
But it represents a substantial source of mortgage funds for buyers who otherwise might have trouble obtaining financing. (vermontrealtors.com)
Homeowners can use the reverse mortgage funds in any way they choose. (reversemortgages.com)