Reverse mortgages are a special type of home equity loan for senior citizens, age 62 and above. (mortgageloan.com)
The second, smaller loan is a second mortgage, which can take the form of a home equity loan or home equity line of credit (HELOC). (themortgagereports.com)
The repayment term of a home equity loan can be several years, potentially making the monthly payments more affordable. (studentloans.net)