I discuss the thorny subject of reverse mortgages with Canstar’s Steve Mickenbecker.
This is a type of loan often used in retirement as a way for people to access the equity in their home. The loan amount depends on your age, the value of the home and how it is taken (lump sum, regular payments or draw down as needed). Interest is added to the loan and compounds. It is not straight forward.
https://www.canstar.com.au/team-members/steve-mickenbecker/
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