HECM reverse mortgage rates can surpass 8%, leading to high interest and fees. Check AAG reverse mortgage closing costs with a customized quote to understand total upfront expenses.

AAG is the biggest reverse mortgage lender by volume. Most of the customer reviews on Trustpilot ... (4.8 stars), it has a mere one star on the BBB and 74 complaints in the last three years.

For many people, the term “reverse mortgage” brings back memories of late-night commercials featuring Tom Selleck and Henry Winkler in the early- to mid-2000s.

Reverse mortgage funds, which are only available on primary residences and to people over the age of 55 who have homes with a minimum value of between $200,000 and $250,000.

Know the basic requirements. To apply for a reverse mortgage, you must be 62 years or older and have equity in the home. The home must be the primary residence and remain in good condition.

The choice between a reverse mortgage and a HELOC can be a tough one for seniors. Getty Images/iStockphoto Though easing inflation and the Federal Reserve's recent rate cut should help to ease the ...

A reverse mortgage is a loan that lets homeowners 62 and older tap their home equity for income, and the loan typically isn't due until the homeowner dies or the home is sold.

HELOC vs. reverse mortgage: Which is right for you? When choosing between a HELOC and a reverse mortgage, it's important to consider what you need the money for and how long you need it.