Reverse Mortgages
Have you been considering a reverse mortgage? Check out these information links from the federal Consumer Financial Protection Bureau.
What are the principal limits and costs?
Are there reverse mortgage alternatives?
What Happens to the Non-Borrowing Spouse if the Borrower Dies?
Can family members live in the home?
Can a reverse mortgage fund a home purchase?
Can a reverse mortgaged home be sold?
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?