Get the pdf version: Home Made Money: A Consumer’s Guide to Reverse Mortgages

Table of Contents

Part 1: Introducing Reverse Mortgages 1

Reverse Mortgages 1

Other Home Loans 1

Forward Mortgages 2

Common Features 3

Loan Types and Costs 6

Part 2: The Home Equity Conversion Mortgage 8

Versus Other Reverses 8

HECM Eligibility 8

HECM Benefits 9

HECM Repayment 13

HECM Costs 14

Other Choices 19

Part 3: Other Choices 20

Other Reverse Mortgages 20

Alternatives to Reverse Mortgages 23

Part 4: Key Decisions 27

Sharing the Decisions 27

Selecting a Counselor 28

Considering Alternatives 29

Selecting a Time 30

Selecting an Interest Rate 31

Selecting a Lender 33

Spending Your Equity 34

Glossary 38

Appendix: Rising Debt & Falling Equity 42