Yesterday the Reserve Bank decided to keep interest rates on hold yet again. Whilst this is good news, there is a growing school of thought that rates may come down later this year as the economy begins to slow considerably.
This would provide relief for many households, and would also make reverse mortgages more attractive to many senior Australians who are currently refraining from releasing equity until interest rates go down.
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Amazing site! I found your site very interesting.Thanks!The Reverse Mortgage is a non-recourse loan. This means that the lender can only derive repayment of the loan from the proceeds of the sale of the property.