Frequently Asked Questions About Reverse Mortgages

What is a reverse mortgage?

How does a reverse mortgage work?

What are the benefits of a reverse mortgage?

What are my obligations?

What if I don’t meet my reverse mortgage obligations? What are my options?

What is the role of my reverse mortgage company/servicer?

What happens if I don’t pay my property-related expenses or don’t maintain my home?

Will I have to repay the loan?

Can I leave my home to my heirs?

What if the sale of my home is not enough to cover the debt?

Can my heirs contact a HUD-approved counselor or my mortgage servicer on my behalf?

Can I add a borrower to the reverse mortgage?

Where can I get help if I am struggling to pay my property-related expenses?

Who should I contact if I think I’m being scammed?

What if I am already in default?

What if I have received a foreclosure notice?

GET HELP

Learn about what help is available and who to contact.

FIND OUT MORE

LEARN ABOUT YOUR
RESPONSIBILITIES

Understand your reverse mortgage responsibilities.

FIND OUT MORE

FREQUENTLY ASKED
QUESTIONS

Find the answers to common questions concerning your reverse mortgage.

FIND OUT MORE