How can I discuss the implications of a reverse mortgage with my heirs?

Reverse mortgages are loans that allow seniors to take equity out of their homes to help pay for living expenses or other costs. Since then, the Federal Housing Association (FHA) insured reverse mortgage loan, known as a home equity conversion mortgage or “HECM,” has dominated the market. Reverse mortgage borrowers have significantly higher financial and housing satisfaction compared to nonborrowers; no differences were found for health, daily ... 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 ... Jun 2, 2009 ... Look and listen for false and misleading claims related to reverse mortgage offers, and report them to the appropriate authorities. There are plenty of other financial options available. Explore these nine top alternatives to reverse mortgages to discover which option is right for you. We are proud to be America's leading HUD-approved reverse mortgage lender, consistently achieving a stellar 4.99/5 star rating for our impeccable service. Jun 2, 2020 ... A reverse mortgage is a loan available to senior homeowners (62 years and older) that allows them to convert part of the equity in their homes ... Feb 18, 2020 ... Costs & Who Pays · You must be age 62 and older · Unlike a traditional mortgage, you do not have to provide an income or credit history to get ... To find a HUD-approved Home Equity. Conversion Mortgage (HECM) counselor near you, call (800) 569-4287. ▫ Decide if you really need a reverse mortgage. Another ...