The Facts Of A Reverse Mortgage Loan

There are many false conceptions about reverse mortgage loans that prevent people from even considering it as an option for them. Doing the proper research and finding out the truth from the lies can help you in the long run.

Do I Have To Pay The Loan back?

One reverse mortage loan fact is that the loan is never due as long as you keep your home up to FHA standards and as long as you remain living in your home.

Will I Lose Ownership Of My Home?

Another fact of reverse mortgage loans is that one requirement of the loan is that title ship and ownership of the home must remain in your name.

Can I get a reverse mortgage loan with a mortgage?

A well known fact of reverse mortgage loans is that you can get a reverse mortgage loan if you either own your home outright or if you have a very low remaining mortgage balance. You cannot get one if you still owe a large amount on your mortgage.

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