Profile of Reverse Mortgages

Informational guide helping seniors discover how to convert their home equity into cash using a reverse mortgage.

Information is available is available on the following three types of reverse mortgages:

1. Single-purpose reverse mortgages - generally provided by state and local government agencies, and some non-profit organizations
2. Federally-insured reverse mortgages- also known as Home Equity Conversion Mortgages (HECMs), these loans are backed by the US Department of Housing and Urban Development (HUD)
3. Proprietary reverse mortgage loans - private loans backed by the companies that offer them