Top Ten Things to Know if You're Interested in a Reverse Mortgage

  1. What is a reverse mortgage?
  2. Can I qualify for a HUD reverse mortgage?
  3. Can I apply if I didn't buy my present house with FHA mortgage insurance?
  4. What types of homes are eligible?
  5. What's the difference between a reverse mortgage and a bank home equity loan?
  6. Can the lender take my home away if I outlive the loan?
  7. Will I still have an estate that I can leave to my heirs?
  8. How much money can I get from my home?
  9. Are there restrictions on how I use the money I receive from the reverse mortgage?
  10. How do I receive my payments?

Reverse Mortgages are becoming popular in America. The U.S. Department of Housing and Urban Development (HUD) created one of the first. HUD's Reverse Mortgage is a federally insured private loan, and it's a safe plan that can give older Americans greater financial security. Many seniors use it to supplement social security, meet unexpected medical expenses, make home improvements, and more. You can receive free information about reverse mortgages by calling us at: 1-800-779-2200, toll-free. Since your home is probably your largest single investment, it's smart to know more about reverse mortgages, and decide if one is right for you!

 

 

 

 

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