What Are the Fees to Get a Reverse Mortgage?5/1/2019
A reverse mortgage is a special type of home loan that allows homeowners 62 and older who have paid off all or most of their mortgage to withdraw some of their home’s equity and convert it into cash.
When evaluating the costs of a reverse mortgage against other potential retirement strategies, you’ll want to look at Home Equity Conversion Mortgages, or HECMs, in particular. HECMs account for nearly all reverse mortgage loans in the U.S. and are insured by the Federal Housing Administration.
Click Here to Read Full Article