How Does a Reverse Mortgage Work?

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If you’re 62 or older and short on cash, you might be considering a reverse mortgage.  But before you jump in and sign the paperwork, it’s important you understand how a reverse mortgage works. When I was young and just out of college, my parents took out a reverse mortgage on their home.  My dad… 

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Mortgage Escrow Accounts Explained

If you’re currently paying a mortgage on your home, odds are you’re paying your property taxes and homeowner’s insurance through a mortgage escrow account.  But what is a escrow account and is it really necessary? A mortgage escrow account is kind of like a forced savings account.  When you make your monthly mortgage payment, you’re… 

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