The vast majority of reverse mortgages today are federally insured by HUD. This provides protection for both homeowners as well as lenders. One protection for homeowners is they are guaranteed that the reverse mortgage program will always be made available to them once they have entered the program. Lenders, on the other hand, are guaranteed that they will always receive the balance owed. This is just one example of how the reverse mortgage program provides safeguards for both the consumer and lender. In the coming series, Reverse Mortgage Safeguards, we will explore other areas of protection for consumers, lenders and the community. Visit us at www.reversemortgagebenefit.com to learn more about reverse mortgages and send us a request to be put in touch with a reverse mortgage lender.
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