10 Best Reverse Mortgage Companies for Seniors
Key Takeaways: Quick Answers 📋
| Critical Question | Quick Answer |
|---|---|
| Who’s the #1 lender by volume? | 🏆 Mutual of Omaha (22%+ market share in 2024) |
| Fastest closing time? | ⚡ Fairway Independent Mortgage (15-17 days) |
| 2025 HECM limit? | 💰 $1,209,750 maximum claim amount |
| Minimum age for HECM? | 👴 62 years old (55+ for some proprietary loans) |
| Is counseling required? | ✅ Yes—HUD-approved counseling is mandatory |
| Can you lose your home? | ⚠️ Yes—if you fail to pay taxes, insurance, or maintain property |
| Maximum proprietary loan? | 🏠 Up to $4 million with some lenders |
🥇 1. Mutual of Omaha Mortgage Dominated 2024—Here’s Why They’re the Market Leader
According to HousingWire (January 2025), Mutual of Omaha Mortgage overtook Finance of America as the leading retail reverse mortgage lender in the country, growing endorsement volume by 12% compared to 2023.
CNBC Select (October 2025) reports that Mutual of Omaha was the highest-volume reverse mortgage provider in 2024, accounting for over 22% of the market. The company earns strong financial health grades from the nation’s leading credit rating companies and maintains an A+ Better Business Bureau rating.
What makes Mutual of Omaha stand out is their century-plus track record. According to CNBC, the company entered the reverse mortgage market in 2018 when it acquired Synergy One Lending and assumed its portfolio. They offer both FHA-backed HECMs and a proprietary SecureEquity loan available for up to $4 million.
However, there are limitations. CNBC notes that Mutual of Omaha doesn’t offer an online application, and their SecureEquity jumbo reverse mortgage is only available in 25 states. They also don’t operate in New York or West Virginia for HECMs.
| Mutual of Omaha Details | Information | 💡 Tip |
|---|---|---|
| Products Offered | 🏠 HECM, SecureEquity (jumbo up to $4M) | ✅ Existing customers get $1,000 closing credit |
| Age Requirement | 👴 62+ for HECM | 📊 SecureEquity only in 25 states |
| BBB Rating | ⭐ A+ | 🎯 No service fees on HECMs |
| Availability | 📍 All states except NY, WV | ⚠️ No online application available |
Contact Information:
- Website: mutualofomaha.com/mortgage
- NMLS #: 1025894
- Headquarters: Omaha, Nebraska
🥈 2. Finance of America Offers the Most Product Variety—Including Loans for Ages 55+
According to CNBC Select (August 2025), Finance of America is the second-largest reverse mortgage provider after Mutual of Omaha, originating 8,995 loans worth a total $1.9 billion in 2024.
SeniorSite (June 2025) reports that Finance of America Reverse merged with American Advisors Group (AAG)—the previously largest reverse mortgage lender by volume—in 2023. This acquisition formed what the company calls a “retirement solutions platform” for older homeowners.
What sets Finance of America apart is their exclusive range of products for homeowners as young as 55 in many states. According to CNBC, their HomeSafe Standard proprietary loan is available for up to $4 million with no monthly mortgage insurance premiums or origination fees.
The company did face legal challenges. SeniorSite notes that Finance of America Reverse agreed to pay $2.47 million to resolve allegations that a predecessor entity violated the False Claims Act. Despite this, they maintain an A+ BBB accreditation.
| Finance of America Details | Information | 💡 Tip |
|---|---|---|
| Products | 🏠 HECM, HomeSafe Standard, HomeSafe Second, EquityAvail | ✅ No origination fees on HomeSafe |
| Age Requirements | 👴 62 for HECM, 55+ for HomeSafe (varies by state) | 📊 60 in MA, NY, WA; 62 in NC, TX |
| Maximum Loan | 💰 Up to $4 million | 🎯 Each client gets dedicated borrower care team |
| Availability | 📍 All 50 states | ⚠️ Age limits vary by state |
Contact Information:
- HECM Customers: (866) 654-0020
- HomeSafe Concierge: (800) 902-7509
- EquityAvail Customers: (877) 200-0160
- General Support: (800) 816-8179
- Email: contactus@financeofamerica.com
- Website: financeofamerica.com
🥉 3. Longbridge Financial Offers the Best Value for Veterans and High-Value Homes
According to Money.com (December 2025), Longbridge Financial lends in all 50 states plus Washington, D.C., and recently introduced a HELOC specifically designed for seniors allowing qualified borrowers to access up to $400,000 in as little as five days.
CNBC Select confirms that Longbridge has lower rates than many competitors and doesn’t charge a service fee, which can otherwise cost as much as $35 per month. For active duty service members and veterans, Longbridge offers a $500 discount on closing costs.
LendEDU (September 2025) reports that Longbridge is known for providing highly personalized service, making it an excellent choice for seniors seeking a tailored reverse mortgage experience. They maintain a 4.7 Trustpilot rating from 968 reviews and an A+ BBB rating.
Their proprietary Longbridge Platinum reverse mortgage offers a line of credit of up to $4 million to homeowners age 55 and older, according to Yahoo Finance (December 2025). They also offer a unique Platinum Preserve option that allows borrowers to reserve 10-40% of their home equity for the future while maintaining a fixed rate.
| Longbridge Financial Details | Information | 💡 Tip |
|---|---|---|
| Products | 🏠 HECM, Platinum (jumbo up to $4M), HELOC for Seniors | ✅ $500 veteran/military discount |
| Age Requirements | 👴 62 for HECM, 55+ for Platinum | 📊 No monthly service fees |
| Special Programs | 💰 Platinum Preserve (reserve 10-40% equity) | 🎯 Online application available |
| HELOC for Seniors | 📍 Up to $400,000, 5-day access | ⚠️ Interest-only payments required |
Contact Information:
- Toll-Free: (855) 523-4326 or 855-LBF-HECM
- Borrower Care Team: (866) 970-3233 (Mon-Thu 8am-8pm EST, Fri 8am-5pm EST)
- Website: longbridge-financial.com
- NMLS #: 957935
⚡ 4. Fairway Independent Mortgage Has the Industry’s Fastest Closing Time—15 Days
According to Yahoo Finance (December 2025), Fairway launched a “15-Day Close” program for HECM reverse loans in 2024, while competitors often mention closing time frames of 30-45 days.
SeniorSite (June 2025) reports that Fairway claims to finish the process in as little as 17 days from application—dramatically faster than the industry standard of 30-60 days. The company secured third place in J.D. Power’s 2022 U.S. Mortgage Origination Satisfaction Study, with only Chase and Rocket Mortgage ranking higher.
Customer satisfaction data is impressive. According to SeniorSite, Fairway maintains an A+ BBB rating with a 4.96 out of 5-star average from more than 2,000 customer reviews. Their ratings show consistent performance across multiple platforms, with 4.9 out of 5 stars from 456,590 reviews.
Fairway offers three main reverse mortgage products: standard HECM, HECM for Purchase (to buy a new primary residence), and Jumbo Reverse Mortgage for properties valued beyond the HECM limit. Their Mortgage Builder is a free online tool for borrowers age 62+ that delivers mortgage options based on financial goals.
| Fairway Independent Details | Information | 💡 Tip |
|---|---|---|
| Closing Time | ⚡ 15-17 days (vs. 30-60 industry average) | ✅ Fastest in the industry |
| Products | 🏠 HECM, HECM for Purchase, Jumbo | 📊 Has funded $40+ billion in loans |
| Customer Rating | ⭐ 4.96/5 (2,000+ reviews) | 🎯 J.D. Power top-3 ranked |
| Availability | 📍 Branches in all 50 states | ⚠️ Rates not listed online |
Contact Information:
- General: (866) 976-4446
- Website: fairwayindependentmc.com
- NMLS #: 2289
- Headquarters: Madison, Wisconsin
🏛️ 5. Guild Mortgage Ranks #1 for Customer Satisfaction on J.D. Power 2025 Survey
According to CNBC Select, Guild Mortgage is one of the top-ranked mortgage lenders for customer satisfaction on J.D. Power’s 2025 mortgage servicing survey, and has earned an A+ BBB rating.
HousingWire (January 2025) reports that Guild climbed to eighth place among HECM lenders, with 430 endorsements between October 2023 and August 2024, up from 265 in the previous period. This growth came through their acquisition of Cherry Creek Mortgage and its reverse mortgage division.
Guild has been a residential lender for 60 years and offers a unique Flex Payment reverse mortgage that allows you to refinance into a HECM to pay off your original mortgage or sell your home to make a down payment on another house.
The company lends nationwide except for New York, according to CNBC. In addition to HECMs and jumbo reverse mortgages, Guild offers reverse mortgage refinancing—a valuable option for seniors who want better rates or terms on existing reverse mortgages.
| Guild Mortgage Details | Information | 💡 Tip |
|---|---|---|
| Industry Experience | 📅 60 years in residential lending | ✅ Top J.D. Power satisfaction ranking |
| Products | 🏠 HECM, Jumbo, Flex Payment, Refinancing | 📊 Acquired Cherry Creek Mortgage |
| BBB Rating | ⭐ A+ | 🎯 Reverse mortgage refinancing available |
| Availability | 📍 Nationwide except NY | ⚠️ Growth trend shows 62% YoY increase |
Contact Information:
- General: (800) 365-4441
- Website: guildmortgage.com
- NMLS #: 3274
- Headquarters: San Diego, California
💰 6. Liberty Reverse Mortgage Charges No Upfront Lender Fee—Unique Cost Structure
According to CNBC Select, Liberty Reverse Mortgage doesn’t charge an upfront lender fee at closing—instead, those costs are rolled into the mortgage itself, which can be helpful if ponying up an origination fee would strain your finances.
Moneywise reports that Liberty Reverse Mortgage has been around since 2004 and is considered one of the most experienced reverse mortgage companies when it comes to HECM loans. Since its inception, the company has helped more than 50,000 senior homeowners with reverse mortgages.
Liberty is licensed in all 50 states and maintains an A+ BBB accreditation. They offer two products: standard HECM and HECM for Purchase. Their website includes valuable resources like a reverse mortgage calculator, a lending map, and honest discussion of pros and cons.
Their Liberty Iron Clad Guarantee promises to match or beat a competitor’s offer—a unique competitive advantage in the industry. Fees and costs vary by state but are described as “quite competitive.”
| Liberty Reverse Mortgage Details | Information | 💡 Tip |
|---|---|---|
| Unique Feature | 💰 No upfront lender fee at closing | ✅ Costs rolled into mortgage |
| Experience | 📅 Since 2004, 50,000+ borrowers helped | 📊 Iron Clad Guarantee (price match) |
| Products | 🏠 HECM, HECM for Purchase | 🎯 Extensive online resources |
| BBB Rating | ⭐ A+ | ⚠️ Fees vary by state |
Contact Information:
- Toll-Free: (800) 218-1415
- Website: libertyreversemortgage.com
- NMLS #: 111092
- Headquarters: Rancho Cordova, California
🏡 7. Movement Mortgage Prioritizes High-Quality Service in All 50 States
According to Retirement Living (September 2025), Movement Mortgage offers HECM and HECM for Purchase reverse mortgages for homeowners who want to turn equity into cash, and the company prioritizes high-quality service while lending in all 50 states.
Movement Mortgage stands out for their focus on the HECM for Purchase program—which allows seniors to use a reverse mortgage to buy a new primary residence. This can be particularly valuable for seniors looking to downsize or relocate to be closer to family without taking on new monthly payments.
The company is known for their community-focused approach and commitment to customer education. They offer extensive resources to help seniors understand whether a reverse mortgage is the right financial decision for their situation.
| Movement Mortgage Details | Information | 💡 Tip |
|---|---|---|
| Specialty | 🏠 HECM for Purchase focus | ✅ Great for relocation/downsizing |
| Service Philosophy | ⭐ High-quality service priority | 📊 Strong educational resources |
| Products | 🏠 HECM, HECM for Purchase | 🎯 All 50 states coverage |
| Best For | 👴 Seniors buying new homes | ⚠️ Contact for current rates |
Contact Information:
- General: (855) 979-6683
- Website: movement.com
- NMLS #: 39179
- Headquarters: Charlotte, North Carolina
🏦 8. Community First National Bank Offers Traditional Banking Stability for HECMs
According to Retirement Living (September 2025), Community First National Bank offers the FHA-insured Home Equity Conversion Mortgage (HECM), which is the most common reverse mortgage type.
What distinguishes Community First is their traditional banking approach in an industry dominated by specialty mortgage companies. For seniors who prefer working with established community banks rather than national mortgage lenders, this offers a level of familiarity and local presence.
Community banks often provide more personalized service and direct access to decision-makers. Seniors can benefit from face-to-face consultations and ongoing relationships with loan officers who understand their community.
| Community First National Bank Details | Information | 💡 Tip |
|---|---|---|
| Institution Type | 🏦 Traditional community bank | ✅ Personalized local service |
| Products | 🏠 FHA-insured HECM | 📊 Face-to-face consultations |
| Best For | 👴 Seniors preferring bank relationships | 🎯 Direct access to decision-makers |
| Approach | ⭐ Traditional banking stability | ⚠️ Check local availability |
Contact Information:
- Website: communityfirstbank.com
- NMLS #: 411845
- Headquarters: Fargo, North Dakota
🔧 9. HighTechLending/American Senior Lending Brings Fresh Leadership and Growth
According to HousingWire (January 2025), HighTechLending rebranded its wholesale channel as American Senior Lending after longtime reverse mortgage industry executive David Peskin purchased an ownership stake in the company early last year. They grew endorsement volume by 6% year over year.
HighTechLending rounds out the top 10 reverse mortgage lenders by volume in 2024, showing consistent growth in a declining market. This growth during challenging industry conditions demonstrates operational strength.
The company’s new leadership brings decades of reverse mortgage expertise, which can translate to better processes and more informed guidance for borrowers navigating these complex products.
| HighTechLending Details | Information | 💡 Tip |
|---|---|---|
| Recent Development | 🔧 Rebranded to American Senior Lending | ✅ New experienced leadership |
| 2024 Performance | 📈 6% YoY growth | 📊 Top 10 lender by volume |
| Products | 🏠 HECM products | 🎯 Wholesale channel strength |
| Best For | 👴 Seniors seeking growing lenders | ⚠️ Contact for current offerings |
Contact Information:
- Toll-Free: (866) 714-5077
- Website: hightechlending.com
- NMLS #: 7147
- Headquarters: Irvine, California
📞 10. All Reverse Mortgage (ARLO) Claims #1 Rating Based on BBB and Review Analysis
According to All Reverse Mortgage’s website (October 2025), their #1 rated claim is based on a comparative review of BBB ratings, complaint histories, accreditation status, customer review scores, and positive-review percentages for the top 20 HECM lenders by endorsement volume.
The company emphasizes transparency in an industry often criticized for confusing practices. They provide free reverse mortgage calculators with real-time rates and encourage borrowers to request written loan estimates with margin, APR, and all closing costs before committing.
All Reverse Mortgage is a HUD-approved lender and member of the National Reverse Mortgage Lenders Association (NRMLA). Their educational approach focuses on helping seniors understand products before applying.
| All Reverse Mortgage (ARLO) Details | Information | 💡 Tip |
|---|---|---|
| Distinction | 🏆 Claims #1 based on BBB/review analysis | ✅ Transparency-focused approach |
| Tools | 📱 Real-time rate calculator | 📊 Written loan estimates emphasized |
| Credentials | 🏛️ HUD-approved, NRMLA member | 🎯 Educational resources |
| Best For | 👴 Seniors wanting comparison tools | ⚠️ Verify credentials independently |
Contact Information:
- Toll-Free: (800) 565-1722
- Website: reverse.mortgage
- NMLS #: 13999
- HUD Lender #: 26031-0007
Complete Lender Contact Directory 📱
| Company | Phone | Website | NMLS # |
|---|---|---|---|
| Mutual of Omaha | 📞 Contact via website | mutualofomaha.com/mortgage | 1025894 |
| Finance of America | 📞 (800) 816-8179 | financeofamerica.com | 2285 |
| Longbridge Financial | 📞 (855) 523-4326 | longbridge-financial.com | 957935 |
| Fairway Independent | 📞 (866) 976-4446 | fairwayindependentmc.com | 2289 |
| Guild Mortgage | 📞 (800) 365-4441 | guildmortgage.com | 3274 |
| Liberty Reverse | 📞 (800) 218-1415 | libertyreversemortgage.com | 111092 |
| Movement Mortgage | 📞 (855) 979-6683 | movement.com | 39179 |
| Community First | 📞 Contact via website | communityfirstbank.com | 411845 |
| HighTechLending | 📞 (866) 714-5077 | hightechlending.com | 7147 |
| All Reverse (ARLO) | 📞 (800) 565-1722 | reverse.mortgage | 13999 |
Essential Government Resources:
| Resource | Contact | Purpose |
|---|---|---|
| HUD HECM Counselor Roster | 📞 (800) 569-4287 | Find required counseling |
| CFPB Reverse Mortgage Help | 📞 (855) 411-CFPB | File complaints, get info |
| HUD Lender Search | 🌐 hud.gov | Verify FHA-approved lenders |
| FTC Consumer Protection | 📞 (877) 382-4357 | Report scams |
⚠️ The 7 Most Common Reverse Mortgage Scams—And How to Avoid Them
According to LendingTree (November 2024), the Consumer Financial Protection Bureau (CFPB) takes legal action against lenders that use deceptive reverse mortgage advertising tactics—and you need to know the red flags.
The FBI’s Boston Division reported $4.88 billion in losses from elder fraud in 2024, representing a 46% jump in complaints and 43% increase in reported losses, according to ConsumerAffairs (October 2025).
Here are the scams identified by the FTC and CFPB:
| Scam Type | How It Works | 🚩 Red Flag |
|---|---|---|
| Inflated Appraisals | 💰 Dishonest appraiser inflates home value | ⚠️ Unusually high equity estimates |
| Contractor Schemes | 🔧 “Urgent repairs” lead to reverse mortgage push | ⚠️ Unsolicited home repair offers |
| Estate Planning Fraud | 📄 Pressure to invest proceeds in annuities | ⚠️ “Special investment opportunity” |
| Foreclosure Rescue | 🏠 “Stop foreclosure now” promises | ⚠️ Upfront nonrefundable fees |
| Fake VA Affiliation | 🎖️ Claims of VA-backed reverse mortgages | ⚠️ VA doesn’t back reverse mortgages |
| Family Exploitation | 👨👩👧 Relatives pressure seniors for equity access | ⚠️ Family members rushing decisions |
| Government Impersonation | 🏛️ Claims loan is “from HUD” | ⚠️ HECM is insured, not issued by government |
According to CFPB enforcement actions, these advertising claims are FALSE:
- ❌ “You cannot lose your home”
- ❌ “You have the right to stay in your home for the rest of your life” (without conditions)
- ❌ “No monthly payments” (without disclosing tax/insurance requirements)
- ❌ “Heirs will inherit the home” (without disclosing payoff requirements)
- ❌ “Limited time offer” urgency tactics
🛡️ HUD-Approved Counseling Is Legally Required—Here’s What It Covers
According to the HUD Housing Counseling Handbook 7610.1 (April 2024), a HECM mortgagor, any non-borrowing spouse, and any non-borrowing owner must receive housing counseling from certified, independent third parties.
The regulation at 24 CFR § 206.41(a) requires this counseling, and 24 CFR part 206 Subpart E sets forth specific requirements. According to Congress.gov analysis, counselors must discuss:
| Required Counseling Topics | What You’ll Learn | 💡 Why It Matters |
|---|---|---|
| Alternative Options | 🏠 Other housing, social services, financial options | ✅ May find better solutions |
| Other Conversion Options | 💰 Other reverse mortgages, sale-leaseback, property tax deferral | 📊 Compare all possibilities |
| Financial Implications | 📄 How loan balance grows, equity decreases | 🎯 Understand true costs |
| Tax Consequences | 💵 Potential tax impacts, benefits eligibility | ⚠️ May affect assistance programs |
| Estate Impact | 👨👩👧 Consequences for heirs | ⚠️ Heirs may not keep home |
| Repayment Triggers | 🏠 When loan comes due | ⚠️ Death, sale, or moving out |
According to HousingWire (September 2025), in October 2024 HUD clarified that HECM counseling can be conducted via virtual platforms, telephone, or hybrid models, as long as in-person options remain available on request. Massachusetts finally removed its strict face-to-face requirement in May 2024.
How to Find Approved Counseling:
| Resource | Contact | Notes |
|---|---|---|
| HUD HECM Counselor Roster | 📞 (800) 569-4287 | Search by location |
| HUD Intermediaries List | 🌐 hudexchange.info | Nationwide phone/face-to-face |
| Credit.org | 📞 Varies | ~20% of sessions in Spanish |
| Counseling Fee | 💰 Usually ~$125 | Paid to counseling agency |
💵 Understanding the Real Costs—What Every Senior Must Know Before Signing
According to LendEDU (September 2025), understanding all potential costs before proceeding with a reverse mortgage is critical because they influence both the money available from the loan and its total cost over time.
Here’s the complete cost breakdown based on FHA regulations and lender disclosures:
| Cost Type | Amount | Who Sets It | 💡 Tip |
|---|---|---|---|
| Origination Fee | 💰 $2,500 or 2% of first $200K + 1% over (max $6,000) | FHA caps it | ✅ Some lenders waive this |
| Counseling Fee | 💰 ~$125 | Counseling agency | 📊 Required before application |
| Initial MIP | 💰 2% of home value or FHA limit (whichever is less) | FHA | 🎯 Can be financed into loan |
| Annual MIP | 💰 0.5% of outstanding loan balance | FHA | ⚠️ Accrues over time |
| Appraisal Fee | 💰 $400-$600 | Appraiser | 📊 Required to determine value |
| Closing Costs | 💰 Varies | Third parties | 🎯 Title, survey, recording, etc. |
| Servicing Fee | 💰 Up to $35/month | Lender | ⚠️ Some lenders don’t charge |
According to Bankrate (June 2025), the average amount of a reverse mortgage issued in 2024 was about $269,000, based on federal Home Mortgage Disclosure Act data.
📊 HECM vs. Proprietary Reverse Mortgages—Which Is Right for You?
| Feature | HECM (FHA-Insured) | Proprietary (Jumbo) |
|---|---|---|
| Maximum Amount | 💰 $1,209,750 (2025 limit) | 💰 Up to $4 million |
| Minimum Age | 👴 62 years old | 👴 55-62 (varies by lender/state) |
| Insurance | ✅ FHA-insured (non-recourse) | ⚠️ Lender-specific terms |
| Counseling Required | ✅ Mandatory HUD counseling | ⚠️ Often recommended, not always required |
| Mortgage Insurance | 💰 2% upfront + 0.5% annual | ❌ Often none |
| Best For | 🏠 Homes under $1.2M | 🏠 High-value properties |
| Example Products | HECM Standard, HECM for Purchase | HomeSafe, Platinum, SecureEquity |
FAQs
💬 “What happens when I die—will my family lose the house?”
Short Answer: 👨👩👧 Your heirs have options, but they must act quickly and understand the rules.
According to the CFPB consumer guide for reverse mortgages, when the last borrower passes away or leaves the home, the loan principal and all accrued interest must be repaid. Heirs can:
- Sell the home and use proceeds to pay off the loan (keeping any remaining equity)
- Repay the loan balance with other funds and keep the home
- Pay 95% of the assessed value if the loan balance exceeds the home’s worth
- Sign over the home’s title to the lender and walk away (non-recourse protection)
Critical CFPB finding: Many consumers complained that loan servicers don’t provide a clear process to allow heirs to settle the debt. Consumers also reported appraisal delays and lack of response from servicers.
💬 “Can I really lose my home with a reverse mortgage?”
Short Answer: ⚠️ Yes—the CFPB confirms consumers can default and lose their homes if they fail to meet loan obligations.
According to CFPB enforcement actions, reverse mortgage borrowers must:
| Obligation | What Happens If You Fail | 💡 Protection Tip |
|---|---|---|
| Pay property taxes | 🏠 Loan comes due, possible foreclosure | ✅ Set aside funds monthly |
| Pay homeowners insurance | 🏠 Loan comes due, possible foreclosure | 📊 Auto-pay from loan proceeds |
| Maintain the home | 🏠 Loan comes due, possible foreclosure | 🎯 Budget for repairs |
| Live there as primary residence | 🏠 12+ months absence triggers repayment | ⚠️ Notify lender if hospitalized |
💬 “Is a reverse mortgage right for me—or should I consider alternatives?”
Short Answer: 🔍 HUD counselors are required to discuss alternatives before you can proceed with a HECM.
According to HUD requirements (Section 255 of the National Housing Act), counselors must discuss:
| Alternative | How It Works | When It’s Better |
|---|---|---|
| Home Equity Loan | 💰 Fixed loan, monthly payments | ✅ If you can afford payments |
| HELOC | 💰 Line of credit, interest-only payments | 📊 If you need flexibility |
| Downsize/Sell | 🏠 Sell home, move to cheaper housing | 🎯 If you have too much house |
| Property Tax Deferral | 💰 Postpone taxes until sale/death | ⚠️ Available in some states |
| Deferred Payment Loans | 💰 Government loans for repairs | ⚠️ Check local programs |
| Rental Income | 🏠 Rent out rooms or property | 📊 If zoning allows |
💬 “How do I verify a lender is legitimate and not a scammer?”
Short Answer: ✅ Use official HUD and CFPB databases—never rely solely on lender claims.
According to SuperMoney (October 2025), here’s your verification checklist:
| Step | How to Do It | Red Flag If Missing |
|---|---|---|
| Check HUD approval | 🌐 hud.gov lender search or (800) CALL-FHA | ⚠️ Not FHA-approved |
| Verify NMLS registration | 🌐 nmlsconsumeraccess.org | ⚠️ No NMLS number |
| Review BBB rating | 🌐 bbb.org | ⚠️ Poor rating or many complaints |
| Complete counseling FIRST | 📞 (800) 569-4287 | ⚠️ Lender discourages counseling |
| Get written Loan Estimate | 📄 Request margin, APR, all costs | ⚠️ Refuses to provide in writing |
| Ask about servicing | 📞 Who services loan after closing? | ⚠️ Won’t answer clearly |
💬 “What should I do if I think I’ve been scammed?”
Short Answer: 🚨 Report immediately to multiple agencies—time matters.
According to the FTC and CFPB guidance:
| Agency | Contact | What They Handle |
|---|---|---|
| CFPB | 📞 (855) 411-CFPB or consumerfinance.gov | Reverse mortgage complaints |
| FTC | 📞 (877) 382-4357 or ftc.gov | Fraud reports |
| State Attorney General | 🌐 Your state’s AG website | Consumer protection |
| HUD Housing Counseling | 📞 (800) 569-4287 | HECM-specific issues |
| Local Police | 📞 911 or non-emergency | If money stolen |
| Your Bank | 📞 Bank’s fraud line | Unauthorized transactions |
The bottom line? Reverse mortgages can be powerful retirement tools when obtained from reputable lenders with proper counseling and understanding of the obligations. The 2025 HECM limit of $1,209,750 represents significant financial opportunity, but the product requires careful consideration. Always complete HUD-approved counseling first, verify lender credentials through official databases, and involve trusted family members in your decision. For scam concerns, contact the CFPB at (855) 411-CFPB. For counseling resources, call (800) 569-4287. 🏠💰✅
