There were a total of 298 consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) in 2024 that were related to the reverse mortgage industry, according to a database ...

Though debt collection is an issue that plagues millions of Americans each year, for seniors it’s at the top of their complaints when it comes to financial products and services, according to a recent ...

Ramsey points out that these loans steadily increase in balance because of accumulating interest, which erodes equity over time. He also stresses that fees and closing costs can be steep, and that ...

Watermark Reverse Mortgage is a licensed lender specializing in reverse mortgage solutions for homeowners aged 55 and older. It offers loan products insured by the Federal Housing Administration (FHA) ...

Finance of America Companies helps retirees by offering a range of home financing options, including reverse mortgages and home improvement loans as well as home-sharing services. As of April 2023, ...

Not all reverse mortgages are scams, but people exploring them should be extremely wary. Many reverse mortgage scams — carried out by unscrupulous parties from financial advisors to contractors — can ...

Reverse mortgages allow homeowners to tap into the equity they’ve built up in their homes without having to make monthly payments.

Dear Savvy Senior: What can you tell me about reverse mortgages? When my husband passed away last year my income dropped almost in half, and I’ve been struggling to keep up with my monthly living ...

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. Knowing these red flags can help you navigate the reverse mortgage ...

A reverse mortgage must be paid back when the borrower dies, moves out of the home or stops fulfilling the terms of the agreement, such as paying property taxes. You might choose to get out of a ...

In turn, more retirees and near-retirees are asking the question of whether opening a reverse mortgage will be worth it in ...

With over four years of experience writing in the housing market space, Robin Rothstein demystifies mortgage and loan concepts, helping first-time homebuyers and homeowners make informed decisions as ...