Exploring retirement options
with a Reverse Morgage.
The American Association of Retired Persons explains all about reverse morgages.
Read More >
Reverse mortgages may have fixed or variable rates. Most have variable rates that are tied to a financial index and will likely change according to market ...
Read More >
What good is a real estate boom if you don't want to sell your house? With a reverse mortgage, seniors can cash out without moving out.
Read More >
Reverse mortgages are the ultimate in "buy now, pay later" loans. That's because you don't have to repay them at all. Ever. Your estate does...
Read More >
The monthly payments that a retiree can get from a reverse morgage depends on their current age, the value of their dwelling, and the interest rate. In a reverse mortgage, a borrower can be paid in a lump sum, or receive a monthly payment. The payment received is not taxable and does not affect the senior’s Social Security or Medicare benefits.
The Reverse Mortgage payments end when the owner passes away, sells their home, or moves into a smaller home or an assisted living center. The reverse morgage is now paid off by the proceeds of the sale of the home, or refinanced by the heirs of the homeowner's estate. If the proceeds exceed the loan amount, the owner of the receives the difference. If the owner has died, the heirs receive the difference. For cases where the proceeds are not sufficient to pay off the loan, then the bank (or insurance that the bank has, on the loan) makes up the difference.