Reverse Mortgage Counseling
What is a reverse mortgage?
A reverse mortgage loan, like a traditional mortgage, allows homeowners to borrow money using their home as security for the loan. Also like a traditional mortgage, when you take out a reverse mortgage loan, the title to your home remains in your name. However, unlike a traditional mortgage, with a reverse mortgage loan, borrowers don’t make monthly mortgage payments.
The loan is repaid when the borrower no longer lives in the home.
Click the links below for additional information.
What is a reverse mortgage?
A reverse mortgage loan, like a traditional mortgage, allows homeowners to borrow money using their home as security for the loan. Also like a traditional mortgage, when you take out a reverse mortgage loan, the title to your home remains in your name. However, unlike a traditional mortgage, with a reverse mortgage loan, borrowers don’t make monthly mortgage payments. The loan is repaid when the borrower no longer lives in the home.
Click the links below for additional information.
Is a reverse mortgage right for you?
- HUD FHA Reverse Mortgage for Seniors (HECM) | HUD.gov / U.S. Department of Housing and Urban Development (HUD)
- What is a reverse mortgage? | Consumer Financial Protection Bureau (consumerfinance.gov)
- For more information contact our Homeownership Team at (702) 649-0998.