Reverse Mortgages, the word is getting out

More and more seniors and their adult children are becoming aware of the reverse mortgage option and are educating themselves about the pros and cons. A major drawback to some is the expense of the loan. Despite the cost, the number of homeowners choosing the reverse mortgage has increased to 43,000 in 2005 from 6,600 in 2000, reports the U.S. Department of Housing and Urban Development (HUD) on its Home Equity Conversion Mortgages (HECMs) which make up 90 percent of the market. An estimated 13 million more seniors qualify for a reverse mortgage and that pool will grow tremendously as baby boomers begin to reach the age of eligibility in a couple of years, HUD reports.

Call 1-888-973-8377 to speak with a Reverse Mortgage Specialist or fill out the Free Online Reverse Mortgage Quote Form.