Quick Facts about Reverse Mortgages

  • FHA insured program for seniors 62 or older
  • Seniors must use the home as their primary residence
  • No more monthly mortgage payments! Ever!
  • You can owe money on your home and still obtain a reverse mortgage!
  • No credit checks!
  • Tax-free! Not considered income!
  • Can take as lump sum, when needed or as regular payments.
  • No health requirements!
  • No income requirements!
  • Most people behind on payments can still qualify.
  • You retain title to your home.
  • You pay taxes and insurance on your property.
  • If your home sells for less than the amount of your reverse mortgage, the government takes the loss, not the homeowner!
  • No limitations about where you must spend the money!
  • No prepayment penalties if you sell!
  • No prepayment penalties if you decide to pay off the loan!
  • Social Security and other federal benefits are not impacted.
  • The older you are, the less equity you need to qualify!
  • Your heirs will retain the rights to your property!
  • You can outlive your anticipated mortgage payment time and pocket the money!

How can your home help
you live in comfort?

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About
Reverse Mortgage
Helpdesk

The Reverse Mortgage Helpdesk is a resource, clear and simple. It is also a free service. We want to make sure seniors and/or their loved ones who are making decisions about maintaining their home, have all the facts. Guidelines and procedures change constantly in the mortgage business. We want to make sure people who have worked all their lives are not taken advantage of by

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