Understanding Reverse Mortgages for Seniors

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Seniors with equity in their homes who intend to stay there and want to supplement their income are turning to reverse mortgages.

Understanding Reverse Mortgages for Seniors

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What Is a Reverse Mortgage? Homeowners age 62 or older, such as those who reported facing financial hardship, may use a reverse mortgage to borrow money against the equity in a fully paid home.

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The Home Equity Conversion Mortgage The only reverse mortgage insured by the U.S. Federal Government and is only available through a Federal Housing Administration (FHA)-approved lender.

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