Not all reverse mortgages are scams, but people exploring them should be extremely wary. Many reverse mortgage scams — carried out by unscrupulous parties from financial advisors to contractors — can ...

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. Reverse mortgages are generally easier for older homeowners to qualify ...

When you inherit a home with a reverse mortgage, you're given six months to pay off the balance, or up to a year if you can get the deadline extended. It's best to work with the loan servicer to avoid ...

If you're a homeowner over age 62, you may be sitting on your biggest financial asset while struggling to pay your bills. With inflation squeezing those with fixed incomes and retirement savings ...

As with most Americans, older homeowners have been facing issues with rising living costs and mounting debt. As a result, tapping into home equity has become an increasingly popular financial strategy ...

Dear Savvy Senior: What can you tell me about reverse mortgages? When my husband passed away last year my income dropped almost in half, and I’ve been struggling to keep up with my monthly living ...

Dear Liz: Please write about the issues people can face when they have a reverse mortgage and need to move out to get long-term care. My mother, who is now 94 and lives on a small teacher’s pension, ...

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When larger banks stepped out of the reverse mortgage market in the 2010s, Finance of America gobbled up much of the demand and became the second-largest reverse mortgage provider after Mutual of ...

While 2024 was rife with challenges for the mortgage industry broadly — across forward and reverse — a new year brings a new mindset. Some challenges remain, with mortgage rates being chief among them ...

At the NRMLA Annual Meeting, loan officers shared valuable strategies for selling reverse mortgages, emphasizing the importance of product knowledge, community engagement and effective communication ...

My last couple of posts, beginning with The Mortgage is Dead; Long Live the Reverse Mortgage, have extolled the virtues of the improved FHA HECM reverse mortgage products. Given that the typical ...