No. of Recommendations: 0
Hi Hub!

You write:

I am pretty much ignoring the polished TV commercials for reverse mortgages. Seems to me if there is a "honest" company offering them one might work for me. I live alone and some distance from my children who do not need or want my home for too many reasons to mention on this board. Can someone with experience in this area recommend an honest mortgage company?

Reverse mortgages have pretty strict and standard rules, so honesty shouldn't be a problem. The best thing do is read up on what to expect so you know what you're getting into. By necessity, you will need to undergo some counseling before you can get a reverse mortgage, as they want to be sure that you know what you're getting into.

Here's an article giving you some reverse mortgage basics:

https://www.houselogic.com/finances-taxes/financing/is-a-rev...

Here's a list of FHA-Approved Reverse Mortgage Lenders, which is a good place to start:

https://www.hud.gov/program_offices/housing/sfh/hecm/hecmlen...

Here's a list of the the "10" best reverse mortgage lenders by a consumer advocacy group:

https://www.consumersadvocate.org/reverse-mortgages/a/best-r...

The amount of money you'll be eligible for will depend on your age and the value of your home. That should be pretty standard among all companies. (If not, that would be a red flag.)

Good luck, and feel free to ask any questions you have.

Warm regards,

Barbara Bayer
TMF Venus
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