Myths About Reverse Mortgages

Myth
- The Bank takes your home
- It's only a last resort
- It's free money
- My equity is safe
- It's not a safe program
Fact
- You retain title to your Home
- Many financially saving retirees use a reverse mortgage as a financing tool
- It's a specialized loan
- Your equity is subject to the housing market
- FHA insured reverse mortgages are fully guaranteed