In 1987 the United States Department of Housing and Urban Development (HUD) created Reverse Mortgages as a "Safe and Highly-Regulated Plan" to give older American Homeowners (over 62) greater financial security.

Who Qualifies for a HUD Reverse Mortgage?
To be eligible for a HUD Reverse Mortgage, HUD's Federal Housing Administration requires that:

• You are a homeowner 62 years of age or older;
• Have a very low outstanding mortgage balance or own your home free and clear
• You meet with a HUD-approved counseling agency -- to make sure you understand what a HUD Reverse Mortgage will mean for you.

How Do Reverse Mortgages Work   Types of Reverse Mortgage Loans   How Much Money Can You Borrow   What Can You Do with the Money   Reverse Mortgages in the News   RM's as an Estate Planning Tool   Long Term Care & Reverse Mortgages       Click Here to receive, by mail or fax, a totally free personalized computer evaluation which will compare 'All of the Plans' available in Ohio.   Toll Free Number 1-800-530-6434 Reverse Mortgage Information Only

Ask your agent
Your RE/MAX Valley HomeTeam, Jack Pearce and Al Leonard can recommend reverse mortgage lenders from which to choose in our area.

See Also:

• Reverse Mortgage - A Retirement Planning Tool for Seniors [PDF, 76 KB]

• Reverse Mortgages Convert Home Equity into Cash, from Law You Can Use, Ohio State Bar Association.