A reverse mortgage provides home-owners access to the equity in their home as a source of income while maintaining ownership of – and residency in – the home.
The National Council on Aging has produced a helpful guide: Using your home to stay at home, available at http://www.ncoa.org/news-ncoa-publications/publications/ncoa_reverse_mortgage_booklet_073109.pdf
You can also call NCOA for guidance at 1-855-899-3778
Another resource is the National Reverse Mortgage Lender Association at NRMLAonline.org
You can also explore a reverse mortgage with most bank and mortgage companies.
The National Association of Realtors has created a credential for SENIOR REAL ESTATE SPECIALIST. These agents have demonstrated that they have the necessary knowledge to counsel clients 50+ through major financial and lifestyle transitions in relocating, refinancing and selling their home. To find someone in your area, contact the association at:
The Princeton Senior Resource Center does not endorse any of the resources listed on these pages. We collect and provide information from many sources as a service to those seeking services in the Princeton area. No listed provider pays to be in our directory.