Equity/Reverse Mortgages
- Quick reverse mortgage guide – PDF document
- This document helps answer various consumer questions concerning reverse mortgages. Additionally, the document defines key terms related to reverse mortgages and provides an actual example of the typical cost breakdown for a reverse mortgage.
- AARP Reverse mortgage page
- From the AARP, this page introduces consumers to reverse mortgages and provides various helpful articles concerning the topic.
- 10 things to know about RM’s: good introduction
- From the AARP, this article provides consumers with ten things they should know, in a question/answer format, about reverse mortgages before deciding to apply for one.
- Are reverse mortgages risky?
- From the AARP, this article highlights various risks associated with reverse mortgages.
- 5 questions to ask yourself before considering a reverse mortgage?
- From the AARP, this article asks consumers to consider five questions in order to determine whether home financing is the right loan.
- A reverse mortgage for less
- From the AARP, this article explains the changes associated with the new HECM Saver program. The article addresses both the pros and cons to the new program and factors for consumer to consider when deciding whether the HECM Saver program is right for them.
- Glossary of RM terms
- From the AARP, this article provides consumers with a glossary of key terms associated with a reverse mortgage.
- A win for reverse mortgage borrowers
- This article, from the AARP Bulletin, highlights a key policy change that allows surviving spouses not listed on reverse mortgages, and facing foreclosure, to remain in their homes.
- RM’s more expensive and complex
- From the AARP, this PDF report helps consumers understand what has caused various rises in costs associated with reverse mortgages and the several reverse mortgage borrowing options.
- Borrowing against your home: RM guide (pdf)
- This report, from the AARP, offers consumers an extensive introduction to reverse mortgages. The article addresses key considerations consumers must keep in mind before applying as well as alternatives.
- HECM counselor resources
- From NeighborWorks America, this page provides information for prospective HECM counselors, active HECM counselors, as well as consumers interested in obtaining a reverse mortgage.
- AARP video on RM
- From the AARP, this video provides both basic information concerning reverse mortgages but also warns consumers that such a loan is one of last resort.
- Reverse mortgage calculator
- From the National Reverse Mortgage Lenders Association, this page provides consumers with a simple calculator that consumers can use to determine how much money they are eligible for through a reverse mortgage.
- Compound interest calculator
- From the Calculator Site, this page allows consumers to easily calculate the compound interest on their savings.
- Reverse mortgages for retirees and seniors
- This article, by Nolo, explains how a reverse mortgage works, who can qualify, how much can be borrowed, and who is a good candidate for a reverse mortgage.
- Reverse Mortgages
- From the Federal Trade Commission, this website does a good job defining reverse mortgages, a borrower’s options, and warns about potential scams.
- Reverse mortgage fact sheet
- From the Washington State Department of Financial Institutions, this article provides a very straight forward and easy to understand analysis on reverse mortgages.
- Submit a Complaint
- From the Consumer Financial Protection Bureau, this website provides consumers with information about how to submit a complaint concerning various financial products and services.
- Reverse Mortgage Scams
- This article, by Nolo, details how reverse mortgages work and lists some reverse mortgage scams and risks.
Other Consumer resources:
