However, unlike traditional mortgages, reverse mortgage loans don't require monthly payments from borrowers. Instead, the loan is settled when the borrower no longer resides in the home. Each month, interest and fees are added to the loan balance, causing it to grow over time. This means that the amount owed to the lender increases, while home ... More @Wikipedia
Hover over any link to get a description of the article. Please note that search keywords are sometimes hidden within the full article and don't appear in the description or title.