Strict tests will ensure that only homeowners who can really afford such schemes can take out equity, which have been a popular way for many to raise extra funds.
8th december 2011 The White Rose Credit union is providing interest-free home loans for vulnerable people around the district. The loans pay for essential repairs and disabled adaptations.
Professional landlords are showing signs of confidence by taking equity out of unmortgaged properties they own to expand and gear up investment potfolios.
The number of homeowners taking out reverse mortgages tripled from 2005 to 2009, perhaps in part because retired homeowners who are strapped for cash are using these loans to turn home equity into a monthly check, says MarketWatch’s Andrea Coombes.
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Video: Personal Finance Minute: Reverse Mortgages
