Reverse Mortgages: Restrictions and Requirements
The FHA recently made changes to the availability of certain types of reverse mortgages, including the popular standard fixed-rate Home Equity Conversion Mortgage (HECM).
Reverse Mortgages: Foreclosure Protections for Nonborrowing Spouses
Reverse mortgage rules might be able to protect you if your spouse passes away, but you aren't named as a co-borrower on the mortgage.
Foreclosure Protections in New York for Reverse Mortgage Borrowers
New York law requires the bank to send a 90-day notice to reverse mortgage borrowers before starting a foreclosure, as well as offer the opportunity to participate in a settlement conference.
Tax Implications of Reverse Mortgages
As far as taxes go, there are pros and cons to reverse mortgages.
Is a reverse mortgage or home equity loan better for me?
Learn about reverse mortgages and HELOCs and determine which one is right for you.
I am 65 and my wife is much younger. Can we get a reverse mortgage?
Question I am 65 and my wife is 40. We have paid off a significant portion of our regular mortgage so we have quite a bit of equity in our home. Can we get a reverse mortgage?
Can I Get a Reverse Mortgage on a Condo?
You can get a reverse mortgage on a condominium, but it must be your principal residence, and it might not be a good idea.
If I Get a Reverse Mortgage, Can I Leave My Home to My Heirs?
If you take out a reverse mortgage, you can leave your home to your heirs when you die. But you'll leave less of an asset to them, and they might have trouble keeping the property.
What's a Reverse Mortgage?
Learn about reverse mortgages, including the upsides—and many downsides—to getting one.