A reverse mortgage or home equity conversion mortgage (HECM) is a special type of home loan for older homeowners (62 years or older) that requires no monthly mortgage payments. Borrowers are still responsible for property taxes and homeowner’s insurance.
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Consumer Financial Protection Bureau has a good article about “How do I know if a reverse mortgage is a good idea for me? What should I consider before applying?”
Federal Trade Commission has an article worth reading on Reverse Mortgage.
National Council on Aging covers the myths and facts about reverse mortgage for seniors.
NOLO has information about Reverse Mortgage Scams.
U.S Department of Housing and Urban Development has Frequently Asked Questions about HUD’s Reverse Mortgages.
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