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Friday, May 30, 2014

Consumer Guide to Reverse Mortgages

This week’s featured resource focuses on reverse mortgages.

Reverse mortgages are home equity loans sold to homeowners 62 and older. With a reverse mortgage, you borrow against the equity in your home.

Many homeowners have questions about reverse mortgages.  The Consumer Financial Protection Bureau has put together a helpful consumer guide to reverse mortgages that you should check out.
In the consumer guide learn more about:
  • What a reverse mortgage is
  • How a reverse mortgage works
  • Important questions to ask yourself
  • Alternatives to a reverse mortgage
  • And information about reverse mortgage counseling
Consumer Guide to Reverse Mortgages (pdf)