For senior homeowners, one viable option is a reverse mortgage, which is a unique type of mortgage that allows individuals aged 62 or older to convert a portion of their home equity into cash.

A reverse mortgage allows older homeowners to borrow against the equity they've accrued in their home. But unlike the monthly payments required by a home equity loan or HELOC, the debt from a ...

It can be a multi-family home of up to four units as long as one unit is owner-occupied. Home equity conversion mortgages (HECMs) are the most common type of reverse mortgages. Insured by the ...

This last requirement means that you can only have one reverse mortgage at a time, and if you want to rent out a portion of your home, you must still be living there. Otherwise, your lender can ...

If you can afford an annuity, you probably should choose one over a reverse mortgage. An annuity can provide reliable income without the risk of losing your home. Annuities are often deemed to be ...

In a divorce settlement, one spouse may take out a reverse mortgage to buy out the other spouse’s interest in the home so that they can retain ownership of the property. Certain requirements ...

With over three years of experience writing in the housing market space, Robin Rothstein demystifies mortgage and loan concepts, helping first-time homebuyers and homeowners make informed ...

Reverse Mortgage Funding LLC is one of the nation's top reverse mortgage lenders. RMF is a direct lender that offers Home Equity Conversion Mortgages to adults 62 and older and its own line of ...

See reviews below to learn more or submit your own review. One Reverse Mortgage offered a variety of reverse mortgage loans until its parent company, Quicken Loans, decided to pause its reverse ...

Both HELOCs and reverse mortgages have unique features homeowners may want to explore this year. By researching both options carefully and measuring them against one another as well as other ...