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About reverse mortgage How to Find the Best Reverse Mortgage Lender | U.S. News – With a single-purpose reverse mortgage, the lender restricts how you can use the money from a reverse mortgage. For example, a single-purpose reverse mortgage may only be used to pay off property taxes or to make home repairs.
(To find a counselor in your area, go the HECM counselors website and click on “Consumer Resources. and low-cost home-improvement loans. For information about such loans and other reverse-mortgage.
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Information On Reverse Mortgages For Seniors – ReverseMortgageAlert.org is not a lender or a mortgage broker. ReverseMortgageAlert.org is a website that provides information about reverse mortgages and loans and does not offer loans or reverse mortgages directly or indirectly through any representatives or agents.
A reverse mortgage unlocks the equity in seniors’ homes, providing an extra source of funds in retirement. It is important that seniors who are considering this product are provided with reverse mortgage resources that will educate them before they move forward.
Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. The only reverse mortgage insured by the U.S. Federal Government is called a Home Equity Conversion Mortgage (HECM), and is only available through an FHA-approved lender.