For homeowners aged 62 and older, a reverse mortgage can be an option to tap into home equity and access cash for retirement or other financial needs. However, reverse mortgages are complex financial products that come with specific rules and considerations. It’s important to understand how they work, who qualifies, and what the long-term impacts are before deciding if this option is right for you.
This resource from the Consumer Financial Protection Bureau explains everything you need to know about reverse mortgages, including how they work, who’s eligible, and the pros and cons. It’s a comprehensive guide for anyone considering this advanced borrowing option as part of their financial plan.
Reverse Mortgage Loans | Consumer Financial Protection Bureau
