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How Does a Reverse Mortgage Work?

By definition, a reverse mortgage loan — also known as a home equity conversion mortgage — allows you to borrow against the equity you’ve built up in your home if you’re age 62 or older. Insured by the Federal Housing Administration, an HECM loan provides funds to help pay for the things you need or want — while you continue to live in and retain ownership of your home. Learn more to find out whether reverse mortgages are a good deal for seniors.

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Webcast Recording: Using a Reverse Mortgage to Buy a Home National Council on Aging Research Highlights Need for Greater Awareness of Home Equity Products among Older Homeowners and Financial Advisors
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