Jan 24, 2025 · A reverse mortgage is a special type of mortgage loan for homeowners who are 62 or older. Watch this two-minute video so you know how they work, and what to consider before applying.

Aug 28, 2023 · 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 …

May 28, 2024 · Typically, a reverse mortgage loan is more expensive than other home loans. With a reverse mortgage, you agree to repay the money you borrowed, plus interest and fees. Unlike …

Dec 12, 2024 · If it’s a struggle to meet your reverse mortgage loan responsibilities, you're not alone. Fortunately, there are options and resources available to you.

Dec 28, 2022 · What should I think about before applying for a reverse mortgage loan and what should I ask a reverse mortgage counselor? How much money can I get with a reverse mortgage loan, and …

Jan 2, 2025 · Before you apply for any reverse mortgage loan, you and your spouse or partner work with a HUD-approved housing counselor to help you decide if a reverse mortgage is right for you.

Find a housing counselor Housing counselors throughout the country can provide advice on buying a home, renting, defaults, forbearances, foreclosures, and credit issues. This list will show you several …

It is called a “reverse” mortgage because, instead of making payments to the lender, the borrower receives money from the lender. The money the borrower receives, and the interest charged on the …

Unlike a traditional mortgage, a reverse mortgage is repaid when the borrowers no longer live in the home. Although you won’t make monthly mortgage payments, you’ll need to continue to pay property …

Dec 12, 2024 · If you’re behind on your mortgage, or having a hard time making payments, we want to get you in touch with a HUD-approved housing counselor—they’ve been sponsored by the U.S. …