Reverse Mortgage Services Market
In a word, a reverse mortgage is a loan. A homeowner who is 62 or older and has considerable home equity can borrow against the value of their home and receive funds as a lump sum, fixed monthly payment or line of credit. Unlike a forward mortgage—the type used to buy a home—a reverse mortgage doesn’t require the homeowner to make any loan payments.Instead, the entire loan balance becomes due and payable when the borrower dies, moves away permanently or sells the home. Federal regulations require lenders to structure the transaction so the loan amount doesn’t exceed the home’s value and the borrower or borrower’s estate won’t be held responsible for paying the difference if the loan balance does become larger than the home’s value. One way this could happen is through a drop in the home’s market value; another is if the borrower lives a long time。This report focuses on global and United States Reverse Mortgage Services market, also covers the segmentation data of other regions in regional level and county level. Reverse Mortgage Services market size is expected to grow from US$ million in 2021 to US$ million by 2028, at a CAGR of % during the forecast period.Reverse Mortgage Services market is segmented by region (country), players, by Type and by Application. Players, stakeholders, and other participants in the global Reverse Mortgage Services market will be able to gain the upper hand as they use the report as a powerful resource.
Major players covered in Reverse Mortgage Services Market are:
American Advisors Group (AAG)
Finance of America Reverse (FAR)
Reverse Mortgage Funding (RMF)
Liberty Home Equity Solutions (Ocwen)
One Reverse Mortgage (Quicken Loans)
Mutual of Omaha Mortgage
HighTechLending
Fairway Independent Mortgage Corporation
Open Mortgage
Longbridge Financial
Market Segment by Type:
Home Equity Conversion Mortgage(HECM)
Proprietary Reverse Mortgage
Single-Purpose Reverse Mortgage
Market Segment by Application:
Debt
Health Care Related
Renovations
Income Supplement
Living Expenses
Others
Learn the latest trends and insights into the Reverse Mortgage Services market by reading the comprehensive and data-driven report.
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