1. Lump sum.
2. Pay off your mortgage.
3. Equal monthly payments as long as the youngest borrower continues to live in the home as a primary resident.
4. Equal monthly payments for a fixed period of time selected by the borrower.
5. Unscheduled payments or installments. The borrower chooses the time and the amount of money until the credit line is exhausted.
6. Combination of #3 and #1 as long as the borrower remains in the home.
7. Combination of #3 and #2 for a fixed period of time chosen by the borrower.

If for any reason the homeowner needs to restrict their payment, this could be easily done for a nominal fee of $20.

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