Since the first FHA-insured reverse mortgage was issued in 1989, many safeguards have been put in place to protect senior homeowners against unscrupulous practices.
Having enough cash to last to - and through - retirement is one of the major challenges facing today’s seniors. A reverse mortgage is a safe way to help senior homeowners improve their cash flow while allowing them to better “age in place” in their own ho
This material is not provided by, nor was it approved by the Department of Housing & Urban Development (HUD) or by the Federal Housing Administration (FHA). It is not intended to be a substitute for legal, tax or financial advice. Consult with a qualified attorney, accountant or financial advisor for additional legal or tax advice.
*There are some circumstances that will cause the loan to mature and the balance to become due and payable. The borrower(s) must continue to pay for property taxes and insurance and maintain the property to meet HUD standards or risk default. Credit is subject to age, minimum income guidelines, credit history, and property qualifications. Program rates, fees, terms and conditions are not available in all states and subject to change.