What You Should Know About Reverse Mortgages

What You Should Know About Reverse Mortgages

A reverse mortgage is an interest-bearing loan secured by the equity in your home and is neither a government benefit nor free money. A reverse mortgage is a home loan.

Advertisements for reverse mortgages can give the false impression that they are an easy, cost-free way for retirees […]

Information from the CFPB regarding Reverse Mortgages (also called HECMs)

Information from the CFPB

CONSIDERING A REVERSE MORTGAGE?

A reverse mortgage is a special type of home equity loan sold to homeowners aged 62 and older. The loan allows homeowners to access a portion of their home equity as cash. In a reverse mortgage, interest is added to the loan balance each month, and the […]

Department of Real Estate – Reverse Mortgages – Is One Right For You?

Reverse Mortgages – Is One Right For You?

A new brochure on reverse mortgages is available from the California Department of Real Estate. View the brochure.

WHAT IS A REVERSE MORTGAGE?

If you are 62 years of age or older, Reverse Mortgages are a way to borrow against the equity […]

More Information on Reverse Mortgages – FTC

A very nice, six-page printed brochure on reverse mortgages is available from the FTC.

Reverse Mortgages – Get the Facts Before Cashing in on Your Home’s Equity – March 2011

A few excerpts:

There are three types of reverse mortgages:

Single-purpose reverse mortgages – Offered by some state and local government agencies and nonprofit organizations. […]