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Common questions about reverse mortgage loans. The definition of a reverse mortgage is simply a loan, and over the years it has continued to evolve into An FHA reverse mortgage (HECM loan), in its simplest definition, is a government-insured loan. It is a financial tool that allows you to access the.
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A reverse mortgage is a type of loan that’s reserved for seniors age 62 and older, and does not require monthly mortgage payments. If you’re wondering whether a reverse mortgage might work for your situation, it’s important to understand how you can qualify.
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The National Reverse Mortgage Lenders Association (NRMLA) is the national voice of the reverse mortgage industry.
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