How good are reverse mortgages?

Answer On One Hand: They can help homeownersIf a homeowner age 62 or older and has a large amount of equity in his home, he can purchase a reverse mortgage. The reverse mortgage can pay off any existing d... Read More »

Top Q&A For: How good are reverse mortgages

Are reverse mortgages a good idea?

On One Hand: A Reverse Mortgage Is a Good IdeaA reverse mortgage is a type of mortgage debt that allows a borrower age 62 and older to tap into the built-up equity in his home. The reverse mortgage... Read More »

Are all reverse mortgages the same?

A Home Equity Conversion Mortgage, also called a reverse mortgage, allows seniors to borrow from the equity in their homes without payments. There are two different types of reverse mortgages, priv... Read More »

Reverse Mortgages & Bankruptcy?

Reverse mortgages--a strategy that allows older people to tap into the equity of their homes--have advantages and disadvantages. These types of loans help people who are at least 62 years old acces... Read More »

Are origination fees on reverse mortgages set by fha?

The origination fee associated with a reverse mortgage is set by the originating lender, which may or may not be FHA. However, if the borrower is purchasing a FHA reverse mortgage, the origination ... Read More »