Reverse mortgage complaints were on a steady downward trend from January 2016 (562) through January 2020 (247), before spiking to 425 by January 2022. But they are back on a downward trend.

A reverse mortgage, also known as a home equity conversion mortgage HECM), is a home loan designed for homeowners aged 62 and older who want to take advantage of the equity they’ve accumulated ...

About Loangevity Mortgage: Paul Scheper is the owner of Loangevity Mortgage (Toll Free 800-662-6784) and specializes in helping individuals and families navigate real estate and financial ...

If your reverse mortgage balance is relatively low, you could pay it off by taking out a loan. Some lenders offer personal loans up to $100,000, although the interest rate will typically be higher ...

It’s an unfortunate thing that many seniors reach retirement age with very little savings. So if you get to that point and need money, you may be inclined to sign up for a reverse mortgage. In ...

HELOC vs. reverse mortgage: What seniors should consider now Eligible senior homeowners who are considering borrowing against their home's values can look into a home equity line of credit or a ...

“As a reverse mortgage professional with 15 years of experience, I’ve spent a lot of time talking to financial planners about different strategies,” he said.

I took out a reverse mortgage, and my current interest rate is 6.75%. I have about $325,000 equity in my home currently, with a reverse-mortgage payoff amount of around $200,000.

A home equity conversion mortgage, or HECM, is the most common type of reverse mortgage. It is backed by the Federal Housing Administration and, in 2025, is capped at $1,209,750.

If you do have a reverse mortgage, your heirs will have to either come up with the money to pay back the loan or sell the home. If leaving your home without any conditions is a priority, you may ...

Homeowners with a reverse mortgage can continue to deduct property taxes on their federal income tax returns, provided they itemize deductions on Schedule A. This treatment remains consistent with ...