Benefits of a Reverse Mortgage| Common Reverse Mortgage Misconceptions | The Steps To Getting a Reverse Mortgage |How the Reverse Mortgage Money Can Be Used | Glossary of Reverse Mortgage Terms

Our federal government created the Home Equity Conversion Mortgage, or HECM Reverse Mortgage, to help homeowners 62 and older access their home equity as a means to supplement their retirement income and gain greater financial independence.

A reverse mortgage is a loan against your home that you do not have to pay back for as long as you live in the home. It can help turn the equity of your home into cash without having to make monthly mortgage payments; and can help you better manage your financial future.

Rather than making a monthly mortgage payment, you actually receive funds from the lender based on the loan terms that you select. Perhaps best of all, a reverse mortgage allows you to still own your home throughout the entire term of the loan.