There has been a wealth of research and other useful information published in the last couple of years about this controversial topic. If you can step away from the tarnished reputation of reverse mortgages and read these sources objectively, you’ll see that reverse mortgages may be very useful in certain situations.
These are what I believe to be reputable sources that I used when researching my new program, Exploring Reverse Mortgages.
- HUD.gov, Home Equity Conversion Mortgages for Seniors
- Factsheet, FAQs, links to lenders and counselors
- National Council on Aging
- Use Your Home to Stay at Home™
- Readable, helpful explanations especially about alternatives to reverse mortgages.
- Reverse mortgages examples are based on old rules.
- BenefitsCheckUp.org Find community and government services.
- Use Your Home to Stay at Home™
- Steven Sass, Alicia H. Munnell and Andrew Eschtruth, Center for Retirement Research at Boston College, Using Your House for Income in Retirement
- Compares benefits of downsizing to a reverse mortgage.
- Designed to help homeowners decide whether a reverse mortgage is right for them.
- National Reverse Mortgage Lender’s Association, Your Guide to Reverse Mortgages.
- Reverse Mortgage Calculator
- Your Guide to Reverse Mortgages explains steps in the process, costs, and more
- Illinois Revenue – Property Tax, Property Tax Relief – Homestead Exemptions
- Tom Davison, Reverse Mortgage Research and Resources: A Bibliography, on Tools for Retirement Planning blog.
- Links to information sources and research on the use of reverse mortgages; many are aimed at financial professionals and are quite technical.
Karen Chan Financial Education & Consulting, LLC 