Non-Profit Reverse Mortgage Information Site Helping Seniors Since 1975
Tips For Consumers Considering a Reverse Mortgage Loan
Look Before You Leap. While a reverse mortgage could put money in your hands, it could also put a lot of your money in someone else’s pocket. All reverse mortgage lenders abide by the same rules but they charge different fees which can significantly affect the amount of money you receive.
New Rules Protect Borrowers. Financial Assessments and Reverse Mortgage Calculator read more
Use the Wisdom of Your Years. If your instinct says a reverse mortgage is a bad idea, stop and think. While others may encourage you to proceed, in the end it’s your home equity – and your money.
Consumer Advisory Tips. Some of the most advertised reverse mortgage companies have toll free call centers with the morals of a shark in a feeding frenzy when it comes to extracting profits from seniors. Others are ruthlessly aggressive lead generating companies who sell your name to 3 or 4 people and you get bombarded with calls.
You should find a local lender who will answer all your questions on the phone and be willing to visit with you in person so that you can fully understand if a reverse mortgage is the right decision for you.
THIS IS A TOTALLY FREE SERVICE. We have been helping senior citizens for over 40 years.