What are the potential impacts of a reverse mortgage on my heirs' inheritance?

Federal regulations and North Carolina law require reverse mortgage loan applicants to receive reverse mortgage counseling from an approved counseling agency. A Reverse Mortgage From Canyon View Credit Union Provides Homeowners With Financial Freedom. If you are 62 years of age or older, a Utah reverse mortgage lets ... A reverse mortgage is a special type of mortgage loan designed for homeowners who are 62 years of age and older. It is a loan against the home that does not ... Most reverse mortgages are regulated by the Federal Housing Administration through the United States Department of Housing and Urban Development (HUD). HUD ... Reverse mortgage borrowers have significantly higher financial and housing satisfaction compared to nonborrowers; no differences were found for health, daily ... ... reverse mortgage loan. (2) The extent to which the borrower's financial needs would be better met by options other than a reverse mortgage loan, including ... Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. With a reverse mortgage, the unpaid loan balance grows over time. As a borrower, you can pay as much or as little toward the loan balance each month as you ... 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 ... Article 21. Reverse Mortgages. § 53-255. Title. This Article shall be known and may be cited as the Reverse Mortgage Act. (1991, c. 546, s. 1; 1995, c.