Mike Gruley, CRMP®
Certified Reverse Mortgage Professional
What is a reverse mortgage?
A reverse mortgage is a special type of loan developed and insured by the U.S. Dept. of HUD that enables homeowners who are 62 years of age or older to access a portion of the equity in their home without ever having to make a monthly mortgage payment.*
Facts about reverse mortgages:
What are funds typically used for?
How do you receive your funds?
*Borrowers are responsible for property taxes, homeowners insurance, association dues, and property maintenance.