Does the homeowner retain ownership of the home with a reverse mortgage?

Yes. The homeowner retains ownership with a reverse mortgage and he/she can stay in the home for as long as he/she desires. In effect, the borrower is being paid to live at home. The program is regulated and insured by the Federal Housing Administration. By law, the homeowner can’t be forced to sell or move. And no payments are due on the Reverse Mortgage until the borrower no longer lives in the home.

Welcome to our Mortgage blog!

Welcome to our Mortgage blog!  We have created this blog to answer your mortgage questions and keep you up to date with industry changes.  The mortgage industry has gotten much more complex with new rules and guidelines being written every day.   We look forward to helping you!

For more information, give Nick & Jennie Garofalo a call at 410-414-7334 or 888-891-8353.

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