BBB’s Tips to Consider Before Applying for a Reverse Mortgage

Reverse mortgages are loans for older adults that can allow them to access the equity in their home without having to sell the property. However, it's important to be aware of the potential costs, terms, and conditions associated with these loans, as unscrupulous individuals may try to take advantage of them. Before applying, it is important to understand the basic requirements, watch out for up-front fees, consult an HECM counselor, and check out lenders with the BBB.

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