Here's what's important for you to know: Reverse mortgages. The main attraction of these loans, which are available to homeowners ages 62 and older, is that they generally don't have to be repaid ...

Have you ever mentioned reverse mortgages at the family cookout? Be honest—what happened? Three people left the table, two went underneath it, and Aunt Petunia made a weapon out of a plastic knife!

One way to do that? Reverse mortgages. Reverse mortgages are a creature of federal law. As part of the Housing and Community Development Act of 1987, the Federal Housing Administration (FHA ...

That makes reverse mortgages appealing to homeowners with or bad credit. There are unique risks, however: When the loan is due, you or your heirs will be faced with a balloon payment or face ...

Reverse mortgages involve fees such as origination fees, mortgage insurance premiums, closing costs, and servicing fees.

These loans, also referred to as private or proprietary reverse mortgage loans, aren’t bound by the same regulations as government-backed home equity conversion mortgages (HECMs), resulting in ...

However, some consumer advocacy organizations are sounding the alarm. Reverse mortgages are a potentially hazardous home loan product—enough so that you must go through special counseling to ...

You can refinance a reverse mortgage, but the costs are high Matt Webber is an experienced personal finance writer, researcher, and editor. He has published widely on personal finance, marketing ...

Even heirs who want to pay off reverse mortgages to hold onto a family home, and have the means to do so, can find themselves stymied by a seemingly endless cycle of conflicting messages ...

Answer: A reverse mortgage can be a helpful tool for people 62 or older who are house rich and cash poor. These mortgages allow people to tap some of their equity without requiring that the ...

Reverse mortgages involve fees such as origination fees, mortgage insurance premiums, closing costs, and servicing fees. These fees are comparable to those of traditional forward mortgages ...