HOW IT WORKS
What Is a Reverse Mortgage?
The most common one of these loans is insured by the Federal Housing Administration. This is called a HECM.
REVERSE MORTGAGE REQUIREMENTS
There are several important requirements borrowers must meet to qualify:
Benefits of a Reverse Mortgage
Borrowers can remain in their homes as long as they meet the terms of their loan and help with funds that can supplement their personal retirement income.
No monthly mortgage
No monthly mortgage payment means you can access more cash for other expenses.
This can provide greater peace of mind, knowing you have your financials under control.