Rules that restrict FHA-backed financing to U.S. citizens and permanent residents applies to reverse mortgages — with ...

What Happened? On March 26, 2025, the U.S. Department of Housing and Urban Development (HUD or the Department) issued Mortgagee Letter 2025-09 ...

Paying back a reverse mortgage is necessary upon death or selling the home, and there are ways to repay the funds early.

Reverse mortgages are a financial product for older homeowners that allows them to tap into the equity they’ve built up in ...

The primary requirements for a reverse mortgage include ... it's typically a good idea to consult a financial advisor or HUD-approved counselor to fully understand how a reverse mortgage fits ...

If you meet certain requirements, you can get some of your home equity in the form of a lump sum, monthly payments, or a line of credit. Here is how FHA reverse mortgage loans work. The Federal ...

A technology tool designed for use by reverse mortgage counselors is no longer available after its contract was canceled.

The Department of Housing and Urban Development (HUD) terminated some mortgages for illegal immigrants in an effort to ensure federal home loans don't go to those living in the U.S. illegally.

FHA loan requirements You'll need a credit score ... The home equity conversion mortgage (HECM) is a popular type of reverse mortgage that's backed by the FHA. Reverse mortgages let you take ...

A HECM is a type of reverse mortgage insured by the Federal Housing Administration (FHA) designed to help people 62 years of age or older convert some of their home equity into cash. Borrowers can ...