Reverse Mortgages 101
A plain-language starting point for homeowners new to the subject.
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Reverse Mortgage Education
Clear, unhurried explanations of how reverse mortgages work — written for homeowners and the family members helping them decide. Topics marked "in development" are being written and reviewed before publication.
Topics
Each topic is a pillar page; deeper articles are grouped beneath the pillar they belong to.
How Reverse Mortgages Work
The mechanics: how funds are drawn, how balances grow, how the loan ends.
HECM Loans
The FHA-insured Home Equity Conversion Mortgage programme.
Eligibility
Borrower, property and financial requirements.
Costs & Fees
Origination, insurance, servicing and closing costs explained.
Rates
Fixed and adjustable structures and how interest accrues.
Spouses
Co-borrowers, eligible non-borrowing spouses and protections.
Heirs & Estate
What happens to the home and the loan balance.
Taxes
How proceeds, interest and property obligations are treated.
Alternatives
Other ways to access home equity or income in retirement.
Home Equity
Understanding equity, valuation and how much can be accessed.
Retirement Scenarios
How the decision fits different retirement income pictures.
Situations & Scenarios
Specific circumstances: moving, care needs, refinancing, hardship.
Common Questions
Direct answers to the questions homeowners ask most.