Search results for "reverse mortgage"

The Department of Housing and Urban Development has announced changes to the federal reverse mortgage program that will raise reverse mortgage fees for some borrowers and lower the amount homeowners can borrow.

If children buy their parents out of a reverse mortgage is that a transfer of an asset for less than fair market value, which would negatively affect Medicaid eligibility? In this instance the house could potentially sell for $600,000 to...

I just learned that my elderly mother signed a reverse mortgage while I was her agent under a durable power of attorney. Is there anything I can do?...

Reverse mortgages make it possible for house-rich but cash-poor elders to use their home equity to pay for in-home care services while they remain in the home. They may use the money for anything they need.

My 78-year-old mother wanted to gift her house to me, but I turned her down for Medicaid and tax reasons. She is maxed out on a reverse mortgage but there is untapped equity of around $50,000. She doesn't want...

Reverse mortgages can be a big help to seniors needing extra cash, but they can become a nightmare for their heirs.

A new study by the National Council on the Aging (NCOA) contends tha...

The COVID-19 pandemic has made it difficult for many older adults with reverse mortgages to afford property charges and fulfill repayment plans.

I am age 87, retired-disabled; my wife is 78 and working part-time but looks forward to retiring soon. We own a home with a substantial mortgage, have a modest IRA, and about $70,000 in savings. We are being hit by...