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Most of the key decisions discussed apply to considering a jumbo as well as a smaller reverse mortgage http://www.aarp.org/money/revmort/revmort_decisions/ |
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Calculate the size of the jumbo reverse mortgage you could get from one lender. http://www.financialfreedom.com/ReverseMortgageCalculator/ |
| Search for "reverse mortgage" to get information on the Housing & Urban Development Dept.'s HECM reverse mortgage and to find HUD housing counselors who may be able to answer your questions.
www.hud.gov |
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The trade group representing reverse mortgage lenders offers a consumer guide, Just the FAQs: Answers to Common Questions about Reverse Mortgages www.reversemortgage.org |
Reverse Mortgage Resources
By Ellen Hoffman
Thanks to soaring property values, many retirees find themselves awash in home equity. But they may not necessarily have ample regular income that pays the bills. If they don't want to sell their homes, a good alternative is a reverse mortgage. Reverse mortgages are more complex than conventional mortgages, so anyone contemplating that route should first do the research. Here are some resources that can help with the basics on reverse mortgages:
Read: Pay Off the House? Not So Fast
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