Friday, July 21, 2017

Myths About Reverse Mortgages

Myths

  • You lose your home
  • It's only for broke people
  • It's free money
  • My equity is safe
  • It's not a safe program

Facts

  • You retain title to your Home
  • Many retirees use a reverse mortgage
  • It's a specialized loan
  • Your equity is subject to the housing market
  • Reverse mortgages that are FHA-insured (Home Equity Conversion Mortgages) are insured by the Federal Housing Administration providing protections for both borrowers and lenders

*Any and all information on this website even if taken directly from HUD or FHA was not approved by the Department or Government Agency.

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