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 ...

Compassionate Eye Foundation / Gary Burchell / Getty Images Reverse mortgages allow an older person to tap the accumulated equity in their home without having to sell it. Eventually, however ...

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 ...

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!

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 ...

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

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 ...

About 25 per cent of Canadian homeowners are mortgage free, and 20 per cent are considered low income (making less than C$40,000 a year) ・Reverse mortgages are available to homeowners 55 and ...

However, this wealth remains untapped without access — where reverse mortgages can play a crucial role. Historically, moderate to affluent retirees and their advisors have been skeptical about ...

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 ...

From the payments to repayment, reverse mortgages can be structured in a number of ways. Consider talking to a financial advisor or your estate attorney to ensure you understand how this type of ...