A reverse mortgage is a loan, in the sense that it allows an eligible homeowner to borrow money but it doesn't work the same way as a home purchase loan. A homeowne… See more

Reverse mortgages can provide much-needed cash for seniors whose net worth is mostly tied up in their home equity: their home's market value minus the amount of any outstan… See more

With a reverse mortgage, instead of the homeowner making payments to the lender, the lender makes payments to the homeowner. The homeowner gets to choose ho… See more

There are three types of reverse mortgages. The most common is the home equity conversion mortgage (HECM). The HECM represents almost all of the reverse mortgages … See more

A reverse mortgage might sound a lot like a home equity loan or a home equity line of credit (HELOC). Indeed, similar to one of these loans, a reverse mortgage can provide a lu… See more