A reverse mortgage is a mortgage loan, usually secured over a residential property, that enables the borrower to access the unencumbered value of the property. The loans are typically promoted to older homeowners and typically do not require monthly mortgage payments.
Reverse mortgages are complicated loans, so borrowers and their heirs need to understand how to repay the loan when it comes due. By knowing and talking through the options in advance, reverse mortgage borrowers and their family members can decide what option makes the most sense for them.
The National Reverse Mortgage Lenders Association (NRMLA) is not a licensed lender or broker and does not make or offer loans. You can find a list of our lender members by clicking here.
A reverse mortgage is a loan that allows you to tap into your home equity to fund everyday expenses or emergency expenses. Typically, reverse mortgages are available to homeowners over age 62, although there are some reverse mortgages that are available to people who are younger.
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Understanding the Reverse Mortgage Fraud Offense. What is Reverse Mortgage Scam. Reverse mortgages are targeted towards seniors who own their homes but who need more cash flow. In a typical transaction, the senior is allowed to remain in the home while receiving cash payments based on the equity in the property.
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A reverse mortgage is a type of loan for seniors ages 62 and older. Reverse mortgage loans allow homeowners to convert their home equity into cash income with no monthly mortgage payments.
ReverseMortgageAlert.org does not offer reverse mortgages. ReverseMortgageAlert.org is not a lender or a mortgage broker. ReverseMortgageAlert.org is a website that provides information about reverse mortgages and loans and does not offer loans or reverse mortgages directly or indirectly through any representatives or agents.
Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. The only reverse mortgage insured by the U.S. Federal Government is called a Home Equity Conversion Mortgage (HECM), and is only available through an FHA-approved lender.
A reverse mortgage is a type of loan that provides you with cash by tapping into your home's equity. These mortgages can lack some of the flexibility and lower.