A reverse mortgage turns the equity you have in your home into cash that can help with retirement expenses.
You can receive the money from a reverse mortgage as a lump sum, monthly payments or a combination of the two.‡
Your costs may be lower (it may be cheaper to get a reverse mortgage than move). You don’t have to move out of your current residence.
The cash you get from the reverse mortgage isn’t taxable.1
People think that the bank takes your home, but that is not true. I like the flexibility of not having a payment, but I can make a payment if I want to.† I advise you to call them. Make an appointment so they can tell you how it works. It's a good thing.
Pam, Retired Business Owner
RMF Customer Since 2016
For us, it was a security blanket. The value of our house was to fund our long-term healthcare. Everybody should be taking a look at it. If they're over 62, they should at least investigate it. We've got great peace of mind. Whatever comes up, we're ready.
Greg & Katie, Retired Scientist & Admin. Assistant
RMF Customers Since 2017
Many people have such a misunderstanding as to how a reverse mortgage works. Most people think the bank takes your house, but that's absolutely 100% wrong. You're responsible for keeping up with your property taxes and you're responsible for paying your insurance on the property. Without a doubt, one of the best financial tools we've learned about.
Elizabeth & Richard, Retired Finance Executives
RMF Customers Since 2017
By clicking "GET INFORMATION KIT ", you are providing your signature and express "written" consent to be contacted by or behalf of Reverse Mortgage Funding LLC, its affiliates and/or its agents (collectively Company) at the telephone, email or mailing address that you have provided for purposes of fulfilling this inquiry about reverse mortgages and/or the Company's products or services, even if you have previously registered on a "do not call" government registry or requested Company to not send marketing information to you by email and/or direct mail. You agree that the Company may use automatic telephone dialing systems and prerecorded voice messaging in connection with calls or texts made to the telephone number you provide even if the telephone number is assigned to a cellular or mobile telephone service or other service for which the called party is charged. You understand that you are not required to consent to receiving autodialed calls or texts as a condition of any reverse mortgage and/or purchasing any Company products or services. If you do not wish to authorize Company to contact you in this manner, you can call 888-298-0611 to complete your request. You understand that you can revoke this consent at any time.
Source: RMF Customer Satisfaction Survey 2019
Source: LendingTree Ratings and Reviews, as of May 2020