Is reverse mortgage safe?

Answer On One Hand: Federal BackingMost reverse mortgage are backed by the Federal Housing Administration (FHA) or the Federal National Mortgage Association (Fannie Mae), making them a safe way for senior... Read More »

Top Q&A For: Is reverse mortgage safe

Can you have a second mortgage included with a reverse mortgage?

A borrower who is 62 or older can purchase a reverse mortgage to pay off any and all debt on their primary residence, including a first and second mortgage debt.SignificanceA reverse mortgage pays ... Read More »

Can you pay off a mortgage with a reverse mortgage?

A reverse mortgage is a type of loan, specifically for borrowers ages 62 and older, that allows a borrower to use the equity in her home to refinance a current mortgage or pull cash out for expense... Read More »

Do co-ops qualify for a reverse mortgage?

Generally, a reverse mortgage is based on owned equity in the real property.Your state or other locale laws and your bank can answer your particular question more precisely, depending on the locati... Read More »

How to Decide on a Reverse Mortgage?

How can I qualify for a reverse mortgage what is the process? This may be a question that you have been reviewing.. Find out what you need to do to get approved for a reverse mortgage.