Should I talk to a financial advisor before getting a reverse mortgage?

There are plenty of other financial options available. Explore these nine top alternatives to reverse mortgages to discover which option is right for you. 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 ... 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. Reverse mortgage means a nonrecourse loan secured by real property which: (1) provides cash advances to a borrower based on the equity or future appreciation ... What is a Reverse Mortgage? • Home Equity Conversion Mortgage (HECM):. Borrower gets cash in exchange for home equity. (Equity is the value of your ownership. The HECM is the FHA's reverse mortgage program that enables you to withdraw a portion of your home's equity to use for home maintenance, repairs, or general ... Contact a mortgage specialist for more details, 801-786-8400. Find a Reverse Mortgage Seminar Near You. Talk to a Mortgage Expert today! Dec 3, 2024 ... Although you don't make any payments on a reverse mortgage, interest and fees do accrue. This means that your loan balance will increase over ... 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 ... In order to receive a Home Equity Conversion. Mortgage (HECM), the most common type of reverse mortgage loan, you must receive counseling from a HUD-approved ...