The HUD OIG report details some reverse mortgage highlights, including an ongoing oversight priority and a recent conviction.

The guidance is designed to clarify requirements for obtaining HECM counseling certification, and to provide a HECM "toolkit" ...

More: Explore the USA TODAY map of reverse mortgage foreclosures HUD has made incremental changes to the program in 2013 to curb full-draw loans, in which all the value can be pulled out in a ...

Attendance at a HUD-approved reverse mortgage counseling session Before you can be approved for a reverse mortgage, you must meet with a third-party housing counselor at a certified counseling ...

The Federal Housing Administration (FHA), part of the U.S. Department of Housing and Urban Development (HUD), provides insurance for a type of reverse mortgage known as a home equity conversion ...

For HECMs, the most common type of reverse mortgage, the maximum you can borrow is $1,149,825 in 2024, according to the U.S. Department of Housing and Urban Development (HUD). It’s possible that ...

If it’s not, your lender may ask you to make repairs before approving your reverse mortgage. Counseling: You must participate in counseling that’s provided by a HUD-approved reverse mortgage ...

Condominiums need approval from HUD to be eligible for a reverse mortgage. Three types of reverse mortgages are available — Single-Purpose, Proprietary and Home Equity Conversion Mortgage (HECM).

Before making a decision, it's typically a good idea to consult a financial advisor or HUD-approved counselor to fully understand how a reverse mortgage fits into your financial picture.

Qualifying for a reverse mortgage backed by the United States Department of Housing and Urban Development (HUD), for example, requires being age 62 or older, living in the home as your principal ...

What is a reverse mortgage? A reverse mortgage is a home loan that allows people ages 62 and older to borrow against their home equity. A reverse mortgage is a type of home loan for older homeowners.