This guide from the Federal Trade Commission (FTC) says that if you’re 62 or older — and looking for money to finance a home improvement, pay off your current mortgage, supplement your retirement income, or pay for healthcare expenses — you may be considering a reverse mortgage. It’s a product that allows you to convert part of the equity in your home into cash without having to sell your home or pay additional monthly bills.
The Federal Trade Commission (FTC), the nation’s consumer protection agency, wants you to understand how reverse mortgages work, the types of reverse mortgages available, and how to get the best deal. /wp-content/uploads/2019/05/ftc-reverse-mortgages.pdf