Reverse Mortgage

Five of the best sites about reverse mortgages. Know of another site that should be listed here? Leave your suggestion at the bottom of this page. (Related searches: Mortgage Calculator, GMAC Mortgage, Florida Mortgage)

1. Reverse Mortgages at AARP - Because reverse mortgages are meant for older Americans, it makes sense to go to someone who has your interests at heart, like the AARP. Here you’ll find an explanation of how a reverse mortgage works, deciding between a reverse mortgage and simply selling your home, a reverse mortgage calculator, and questions to ask yourself in making a decision. (www.aarp.org)

2. Securing Your Retirement with a Reverse Mortgage - Wells Fargo is one of the largest reverse mortgage lenders in the United States, and this page offers information on reverse mortgages as well as how to contact a Wells Fargo mortgage consultant if you want to talk further about your situation. (www.wellsfargo.com)

3. Reverse Mortgages Getting More Popular in Tough Economy - December, 2008 article on the use of reverse mortgages to pull cash from a home’s equity versus drawing down investment accounts that are severely down in value due to the current economic climate on Wall Street. (seattletimes.nwsource.com)

4. FHA’s Reverse Mortgage for Seniors Home Equity Conversion Mortgage - This page may look a bit intimidating, but it’s a good resource for understanding the reverse mortgage options available through the U.S. Department of Housing and Urban Development, better known as HUD. Learn about Home Equity Conversion Mortgages (aabbreviated HECM and basically another name for a HUD reverse mortgage), including a list of common questions, a reverse mortgage calculator, approved FHA lenders for HUD reverse mortgages, and much more. (www.hud.gov)

5. Program Allows Reverse Mortgage for a Purchase - December, 2008 article about a change in law that starting in 2009 will allow those over 62 the chance to buy a home with a reverse mortgage, making only an initial down payment and other closing costs. In the past, reverse mortgages were only for those who already owned a home and could not be used to make a purchase. (www.heraldnet.com)

other tags: mortage, mortages, morgage, morgages