Atlantic Pioneer Mortgage

A reverse mortgage (known as lifetime mortgage in the United Kingdom) is a loan available to seniors (62 and over in the US) and is used to release the home equity in the property as one lump sum or multiple payments. The homeowner's obligation to repay the loan is deferred until the owner dies, the home is sold, or the owner leaves (e.g. Into aged care) Not only will you know your housing budget to the dollar before you begin searching for a home, you'll have more negotiating leverage because the seller knows you've already got a loan virtually in your pocket.