What are the most important questions a senior should ask themselves before considering a reverse mortgage?

How does a reverse mortgage impact my home equity? Unlike a traditional mortgage, you do not have to make monthly mortgage payments. Loan proceeds are advanced ... Most reverse mortgages are regulated by the Federal Housing Administration through the United States Department of Housing and Urban Development (HUD). HUD ... "Reverse mortgage loan" means a loan: (1) made to a borrower wherein the committed principal amount is paid to the borrower in equal or unequal installments. A reverse mortgage is a loan for seniors ages 62 and older in which the lender pays you. Homeowners may convert their home equity into cash income, in the form ... A reverse mortgage allows consumers 62 or older to supplement their income by converting home equity into cash. Mar 27, 2025 ... The reverse mortgage company stops making payments at the end, similar to what happens when you pay off a normal mortgage. At that point, the ... This complete guide to reverse mortgages will walk you through everything you need to know about this unique financial tool. Since then, the Federal Housing Association (FHA) insured reverse mortgage loan, known as a home equity conversion mortgage or “HECM,” has dominated the market. Our HUD-approved reverse mortgage counselors provide unbiased education to seniors interested in a reverse mortgage. Call (800) 757-1788 reverse mortgages. What is a reverse mortgage? A reverse mortgage is a special type of home equity loan sold to homeowners aged 62 and older. The loan ...