Are there any state-specific reverse mortgage programs?

Reverse mortgage overview. A reverse mortgage loan is a special type of mortgage loan for seniors (generally age 62 and older). Unlike a traditional mortgage, a ... A counselor will explain how reverse mortgages work, including how you can access your equity, costs, tax implications, benefits and drawbacks. This complete guide to reverse mortgages will walk you through everything you need to know about this unique financial tool. Reverse Mortgage Repayment When Home Uninhabitable · The borrower is engaged in repairing the home with the intent of reoccupying the home as a principal ... Reverse mortgages are loans that allow seniors to take equity out of their homes to help pay for living expenses or other costs. Talk to one of our reverse mortgage advisors. They will help you understand how much you can expect to get and answer any questions you may have. This bill: 12 enacts the Utah Reverse Mortgage Act; 13 defines terms; 14 provides requirements for a reverse mortgage in the state. A reverse mortgage allows homeowners age 62 or older (55+ for some proprietary reverse mortgages) to borrow against the equity in their home, and receive the ... Amends the National Housing Act, with respect to mortgage insurance for home equity conversion mortgages (reverse mortgages) of elderly homeowners. Federal regulations and North Carolina law require reverse mortgage loan applicants to receive reverse mortgage counseling from an approved counseling agency.