How this option works
A reverse mortgage is a loan against home equity with a different repayment structure. Interest and fees can increase the balance over time. Review the effect on remaining equity and future housing plans before deciding.
What to consider
Taxes, insurance and maintenance remain your responsibility. Understand when repayment becomes due and the effect on heirs.
Learn more about reverse-mortgage responsibilities from the CFPB. Program availability and eligibility require lender review.