That’s WRONG.
You always own your home. A Reverse Mortgage is just like any other mortgage – you own the title and the bank holds a lien. You can pay it off any time you like. But there’s no payment requirement as long as you live in your home and you don’t have to leave your home until it is your choice.

That’s WRONG.
Even seniors who have not paid off the mortgage on their home may qualify. However, you would need to use the proceeds of your Reverse Mortgage to first pay off your current mortgage before you would be free to spend the cash in other ways.

That’s WRONG.
The Reverse Mortgage is a non-recourse loan – which means neither you nor your heirs are personally liable for this loan. It will be repaid by the value of your home and other assets are not at risk. The loan is usually repaid by selling the home or refinancing.

That’s WRONG.
Most family members want you to use your own assets to achieve financial security and to enhance your quality of life.

That’s WRONG.
While some seniors have needed the money from a Reverse Mortgage more than others, the flexibility of Reverse Mortgages makes them attractive to seniors from all walks of life.