Maybe you are wondering whether a reverse mortgage would be a good fit for you, or you’re trying to learn more for a parent or loved one. There are a lot of confusing assumptions out there about reverse mortgages (also called Home Equity Conversion Mortgages or HECM), and the available programs have changed for the better in recent years.
This guide can help inform you throughout the reverse mortgage process:
“The Reverse Mortgage Self-Evaluation” provides basic information about reverse mortgages and offers a few key questions that can help you decide whether a reverse mortgage could be right for you. It addresses:
- Your obligations as a borrower under a reverse mortgage
- How your reverse mortgage loan will be repaid
- How long you (and your spouse) plan to remain in the home
- Other strategies to supplement retirement income
Is a reverse mortgage right for you? What should you know before you apply? Download our guide to find out.