Reverse Mortgages
Have you been considering a reverse mortgage? Check out these information links from the federal Consumer Financial Protection Bureau.
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What are the principal limits and costs?
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Are there reverse mortgage alternatives?
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What Happens to the Non-Borrowing Spouse if the Borrower Dies?
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Can family members live in the home?
Can a reverse mortgage fund a home purchase?
Can a reverse mortgaged home be sold?
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How much money can a reverse mortgage borrower get and what are the payment options?
What are a borrower’s ongoing responsibilities with a reverse mortgage loan?
When does a reverse mortgage need to be paid back?
What if reverse mortgage borrower cannot pay their property taxes and/or homeowners insurance?
What can a reverse mortgage borrower do if they receive a notice of default?
What happens if the balance of the loan grows larger than the value of the home?
Should a reverse mortgage be used to consolidate debts?
Does an older homeowner need to use estate planning services to take out a reverse mortgage loan?
Are ads saying no-payment reverse mortgages offered by Veteran Affairs legitimate?