Life of a Reverse Mortgage
Walk through the life of a reverse mortgage loan and what borrowers can expect from the application process through the end of the loan.
Applying
To be eligible for a reverse mortgage, borrowers need to own their homes outright or have substantial equity.
Read article from Reverse Mortgage Equity RequirementsThe process for getting any mortgage can be confusing. We break down getting a reverse mortgage into seven simple steps, starting with research.
Read article from Applying for a Reverse Mortgage in 7 StepsA reverse mortgage requires that borrowers have substantial equity in their homes. Here are some options if you don't have enough equity to qualify.
Read article from What if You Don’t Have Enough Equity for a Reverse Mortgage?End of the Loan
There are several ways to exit or walk away from a reverse mortgage before it comes to term. Contrary to a popular myth, none of them require that you pay a penalty.
Read article from Can You Walk Away From a Reverse Mortgage?It is not possible to outlive a reverse mortgage, however, you can outlive available proceeds. Learn how careful financial planning can help.
Read article from Can You Outlive a Reverse Mortgage?