Content Overview
- Summary
- What Is A Reverse Mortgage?
- What Steps Should I Take Before Obtaining A Reverse Mortgage?
- What Is Necessary To Qualify For A Reverse Mortgage?
- How Much Money Can I Get From A Reverse Mortgage?
- How Can I Receive The Loan Proceeds?
- Fixed Rate Reverse Mortgage versus An Adjustable-rate Reverse Mortgage
- How Do I Pay Back A Reverse Mortgage?
- What Obligations Does A Borrower Have While A Reverse Mortgage Is Outstanding?
- What Are Some Of The Pitfalls To Watch Out For When Considering A Reverse Mortgage?
- How Much Does A Reverse Mortgage Cost?
- What Is The Tax Situation With Respect To A Reverse Mortgage?
- What Effect Would A Reverse Mortgage Have On My Benefits?
- Counseling Session And Other Consumer Protections
- Using A Reverse Mortgage To Purchase A Home
- How Do I Locate A Source For A Reverse Mortgage?
- How Do I Obtain More Information About Reverse Mortgages?
Reverse Mortgages 101
How Do I Obtain More Information About Reverse Mortgages?
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For additional information about reverse mortgages, contact:
- AARP: www.aarp.org/learntech/personal_finance/a2003-05-12-homemademoney.html
- Department of Housing and Urban Development (HUD): www.hud.gov 888.569.4287 (press the selection for Home Equity Conversion Mortgage -- HECM)
- Fannie Mae: www.fanniemae.com 800.732.6643
- Financial Freedom: www.ffsenior.com 800.500.5150
- National Reverse Mortgage Lenders Association: www.reversemortgage.org 888.328.9171
For calculators to get an estimate of costs and loan proceeds, Golden Gateway Financial has a calculator to provide an estimate of costs. So does AARP.
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