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Home >> Finances >> Alternative Financing - Reverse Mortgages

Reverse Mortgages For Seniors

 

About Reverse Mortgages

In 1987 the United States Department of Housing and Urban Development (HUD) created Reverse Mortgages as a "Safe and Highly-Regulated Plan" to give older American Homeowners (over 62) greater financial security.

Who Qualifies for a HUD Reverse Mortgage?
To be eligible for a HUD Reverse Mortgage, HUD's Federal Housing Administration requires that:

  • You are a homeowner 62 years of age or older;
  • Have a very low outstanding mortgage balance or own your home free and clear
  • You meet with a HUD-approved counseling agency -- to make sure you understand what a HUD Reverse Mortgage will mean for you.

For more information concerning Reverse mortgages see:

AAARP  - Reverse Mortgages
HUD - Top Ten Things to Know if You're Interested in a Reverse Mortgage
RE/MAX Valley Real Estate, Above The Crowd
Information at this site will help you learn more about foreclosure and more importantly - how to prevent it.

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Revised: 01/14/10.
RE/MAX Valley Real Estate
LICENSED in STATE of OHIO
is an independently owned and independently operated franchise of RE/MAX International Inc. The RE/MAX franchise network is a global real estate system of franchisee owned and operated offices, and their affiliated independent professionals. RE/MAX affiliates lead the industry in professional designations, experience and production. RE/MAX Valley Real Estate and RE/MAX International are Equal Opportunity Employers and support the Fair Housing Act.