A reverse mortgage is a special type of home loan that lets a homeowner convert a portion of the equity in his or her home into cash. The equity built up over years of home mortgage payments can be paid to you. But unlike a traditional home equity loan or second mortgage, no repayment is required until the borrower(s) no longer use the home as their principal residence. HUD’s reverse mortgage provides these benefits, and it is federally-insured as well.
Call Vicki Stanton (714) 809-5787 or click to email for more information and for a lender recommendation. You can receive free information by calling AARP at (800) 209-8095
Information taken from www.hud.gov and is deemed reliable but not guaranteed