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As retirees seek ways to supplement their income or cover expenses, accessing the equity in their home can be a practical solution. Two popular options for doing so are the Home Equity Line of Credit (HELOC) and the Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage. While both allow homeowners to unlock the value of their property,... Read Full Article
32 comments
The reverse mortgage is a scam! I am a banker, and I see elderly customers getting deceived daily by these 'reverse mortgages.' They end up losing everything and put their heirs in jeopardy. -Tim As a mortgage banker with over 45 years of experience, I've worked with many major banks, mortgage companies, and insurance firms, handling a wide range of... Read Full Article
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[arlo_toc] Understanding the Reverse Mortgage for Purchase Program Many seniors prioritize finding a home that suits their lifestyle as they retire. Whether they’re looking to downsize, rightsize, avoid stairs, or find a low-maintenance property, the Reverse Mortgage Purchase program—also known as HECM for Purchase or "H4P"—is a valuable option that’s often overlooked. If you’re 62 or older, this HUD-insured program... Read Full Article
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[arlo_toc] Exploring Reverse Mortgages for Purchasing Multifamily Units If you’re retired and thinking about downsizing, moving closer to loved ones, or finding a more suitable living arrangement, the reverse mortgage purchase program might be a great option for you. This government-insured reverse mortgage is available to individuals aged 62 or older and allows you to use the equity in your... Read Full Article
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Are you considering a reverse mortgage but unsure about the differences between a Home Equity Conversion Mortgage (HECM) and a proprietary reverse mortgage? You’ve come to the right place. In this guide, we’ll cover: What a proprietary reverse mortgage is When a proprietary reverse mortgage might be better than a HECM Qualifications for a proprietary reverse mortgage How the costs... Read Full Article
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Reverse mortgages can provide older homeowners with financial flexibility, but navigating the rules doesn’t have to be daunting. As of 2025, important updates to reverse mortgage guidelines have been introduced, making it crucial for those 62 and older to stay informed. If you're considering tapping into your home equity, this guide simplifies the five essential rules for reverse mortgages. From... Read Full Article
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Can a contractor build a new home for you and finance it with a reverse mortgage upon completion? Thank you -Bob The short answer to your question is, yes, you can. As a matter of fact, HUD has just made changes to the program effective in 2024 and made financing reverse mortgage purchases and new construction easier than ever... Read Full Article
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[arlo_toc] Understanding Your Reverse Mortgage: Key Factors One of the most common questions about a reverse mortgage is how much money you, as the borrower, can receive. The amount you can get depends mainly on two factors: your age and the loan's interest rate and margin. Typically, the older you are, the more money you can receive. Lower interest rates... Read Full Article
105 comments
We received a notice that our reverse mortgage loan is being assigned to HUD, along with the name of the handling company. This company has numerous complaints, especially about foreclosing before heirs can settle the home. I am the beneficiary of my mom's house, which is in a trust and a will to avoid probate. What recourse do I have... Read Full Article
84 comments
We just received this comment on our blog: It boils down to the saying, If it's too good to be true, then it is. I watched this actor named Tom Selleck pitching for a reverse mortgage on a TV commercial. That sounds very convincing, even when he swears to have done his homework on the matter and told the truth. ... Read Full Article
This material has not been reviewed, approved, or issued by HUD, FHA, or any government agency. All Reverse Mortgage, Inc. is an independent company and is not affiliated with, acting on behalf of, or endorsed by HUD/FHA or any government agency. This content is for educational purposes and is not tax advice. Reverse mortgage programs may not be available in all states.
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