Reverse Mortgages

Reverse mortgages are a special type of home loan that allow homeowners to convert some of the equity in their property into cash.  In order to qualify for a reverse mortgage, homeowners must be at least 62 years old.  Reverse mortgages can give older Americans greater financial security to supplement their income, meet unexpected medical expenses, make home improvements, and more. 

However, there are potential risks that homeowners should be aware of before entering into a significant financial transaction such as a reverse mortgage.  The federal agencies in the links provided below issued guidance that may assist homeowners in determining whether a reverse mortgage is the right choice.

Additionally, the Georgia Consumer Protection Division issued a Georgia Consumer Protection Guide for Older Adults that includes information on reverse mortgages and other potential scams that homeowners may encounter.  The Guide is available at