A reverse mortgage is a federally backed program designed to allow older homeowners (aged 62+) to tap into the equity they have built up in their homes and use those funds as they see fit.  Benefits are based on age, current interest rates and home values.  Any lines on the property must be paid in full of the proceeds of the loan. 

Borrowers always retain title to their homes, no monthly principal and interest payments required, and all proceeds are tax free.  Loans are due and payable when borrowers are no longer living in their homes as a primary residence.

Key, understanding Revers mortgage: 

Presenters, Joyce Jones, Realtor and Ernie Castro, Home Equity Retirement Specialist will help us to understand Reverse Mortgage process.

Adults, Older adults. Registration is required.