A reverse mortgage allows a homeowner who is at least 62 years old to use the equity in his or her home to obtain a loan that does not have to be repaid until the homeowner moves, sells, or dies. But the homeowner is required to pay property taxes and homeowners insurance premiums on the property. Your assets can be protected to afford options like reverse mortgage when a proper estate plan is created to manage and allow smooth transition into long term care scenarios. Strohschein Law Group is here to help you protect what matters.
January 29, 2015
February 11, 2014
The new rules are an effort to strengthen the federal Home Equity Conversion Mortgage (HECM) program, which insures almost all reverse mortgages and which has seen default rates rise.