Information for Seniors

For seniors interested in participating in FHA's Home Equity Conversion Mortgage (HECM) program, a reverse mortgage program that enables you to withdraw a portion of your home's equity, please check out the consumer resources below:

• HUD’s Home Equity Conversion Mortgages for Seniors
• Find a HUD-approved reverse mortgage counselor
• The National Council on Aging (NCOA)
• Eldercare Locator
• National Clearinghouse for Long-Term Care (LTC) Information
• Consumer Financial Protection Bureau Reverse Mortgage Information page
• National Reverse Mortgage Lenders Association consumer inforation page

Consumer Financial Protection Bureau’s Office for Older Americans
As an increasing number of older homeowners are considering using their home equity to supplement their retirement income, lenders are marketing reverse mortgages as a way for older consumers to age in place.  And yet many older consumers are confused about what it means to take out a reverse mortgage. To help older homeowners understand how a reverse mortgage works, the Consumer Financial Protection Bureau’s Office for Older Americans created the following resources:

Reverse Mortgage Discussion Guide: To help housing counselors and older consumers learn about reverse mortgages, the Consumer Financial Protection Bureau’s Office for Older Americans created an in-depth resource that gives an overview of many key concepts of reverse mortgages. 

Know Before You Owe Reverse Mortgage Video:  To help older consumers understand the basics of what a reverse mortgage is, the Consumer Financial Protection Bureau’s Office for Older Americans created a two-minute explanatory video for homeowners and their families.