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 ...

3. Counseling fees Homeowners who decide to take out a reverse mortgage need to undergo counseling from a HUD-approved agency before borrowing that money. The purpose is to make sure you ...

“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.

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 ...

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 ...