Reverse Mortgage Myths

The Home Equity Conversion Mortgage (most commonly known as a Reverse Mortgage) has been around since the 1980s. Though it's becoming more popular among seniors who need to tap their home equity, there are a lot of myths and misconceptions about how it works.

To help others learn about what a Reverse Mortgage can really do, we put together a list of the 'Reverse Mortgage Myths' - and the truth behind them. One myth that scares away potential borrowers is that the bank will end up owning the home. Actually, the senior(s) remain on title and retain ownership of the home for as long as they live in it. The lender is never on title.

You can read more about the Reverse Mortgage myths on our website:

http://gorevmo.com/learn-more/myths-about-reverse-mortgage/

If you have any questions that aren't addressed on the Myths page, feel free to comment here, send an e-mail to ed.ramos@fpfmail.com, or call our office at (510) 534-5171. We hope to hear from you!