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Welcome to MBA's Reverse Mortgage Resource Center. This area has been designed to be your one location for the latest information on the growing reverse mortgage market. Check back often for updates.
"Reverse Mortgage" defined: A reverse mortgage is a loan that is available to persons 62 years and older who live in their home, and is used to release the equity in the property to the homeowner, in the form of monthly payments, a lump sum or a line of credit. Repayment is deferred until the owner dies or leaves, or the home is sold. In a reverse mortgage, the homeowner makes no payments and the debt on the property increases up to a pre-determined maximum amount.
There are currently three types of reverse mortgage products available: the Federal Housing Administration (FHA)'s Home Equity Conversion Mortgage (HECM) program, lenders' proprietary reverse loans and the Fannie Mae Home Keeper program's reverse mortgage (program ends December 31, 2008).
MBA Reverse Mortgage Resources
Other Reverse Mortgage Resources
Related MBA Meetings and Education
MBA's National Mortgage Servicing Conference & Expo
February 17-20, 2009, Tampa, Fla.
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