Is reverse mortgage (home equity release) permitted for Muslim homeowners to fund retirement needs?
Question:Is reverse mortgage (home equity release) permitted for Muslim homeowners to fund retirement needs? Answer: 1. Understanding Reverse Mortgage (Home Equity Release) A reverse mortgage allows elderly homeowners to borrow money against the equity in their home. Repayment usually occurs upon the homeowner’s death, sale of the property, or permanent relocation. The loan typically accumulates … Read more