Reverse Mortgages

A reverse mortgage or home equity conversion mortgage is structured in the opposite manner of a typical forward mortgage. Instead of getting a loan to pay for a home, you receive funds (in a lump sum, or over time) in exchange for the current and/or future equity of your home.

There are four basic areas of default with reverse mortgages:

  • Borrower does not keep property taxes current
  • Borrower does not keep property insurance current
  • Borrower does not maintain the property (good repair)
  • Borrower does not live in the property at least six months during the year

If you find yourself in default we may be able to assist with a resolution:

  • Consult a HUD Certified Housing Counselor: AHEAD, Inc. at (800) 974-1377 ext. 1031 or visit
  • Consider application to the Homeowner Assistance Fund Program (put link to that page here)

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