Reverse mortgages provide benefits not only for your parent(s) or loved ones, but for you as well. With a reverse mortgage, your family member may:
Best of all, your loved ones can stay in the comfort of their own home, benefiting from that home equity as long as they live.
Then, when family members leave the home permanently, you have several options:
In addition, if your family members’ loan was larger than what the home sells for, FHA insurance covers the difference. Which means neither they nor their heirs will ever owe more than the value of the home. And that’s the best of both worlds.