A reverse mortgage allows seniors to use the equity in their homes to create cash for various reasons, including supplementing social security or other retirement income. The U.S. Department of Housing and Urban Development (HUD) has an article called the Top Ten Things to Know if You're Interested in a Reverse Mortgage.
AARP also offers lots of information, including Exploring Reverse Mortgages: A Consumers' Guide.
Senior BofI offers reverse mortgages. You can get more information about them at our Reverse Mortgage page and, as always, don’t hesitate to contact us with questions.
Labels: reverse mortgage, senior banking