NATIONAL REVERSE MORTGAGE LENDERS ASSOCIATION

A reverse mortgage is a loan available to homeowners 62 years or older (although some private-label reverse mortgages go down to age 55) that allows them to convert part of the equity in their homes into cash... The product was conceived to help retirees with limited income use the accumulated wealth in their homes to cover basic monthly living expenses and pay for health care. There is no restriction on how reverse mortgage proceeds can be used. As a result, an increasing number of homeowners are using reverse mortgages as part of a comprehensive retirement plan to enhance their financial security... A reverse mortgage is a versatile retirement funding tool that can be utilized in many ways. Here are just some of them: Pay off your forward mortgage to more… 25 Ways to Use a HECM

Also known as: reverse mortgage, ReverseMortgage.org