Reverse mortgages can help older homeowners use the equity in their homes to help finance their retirement. The basic criteria are:
- At least one borrower must be 62 or older
- Own your home or have significant equity
- Home must be your primary residence
- Participate in an information counseling session with HUD
- Home must be well-maintained
- All property taxes and insurance must be paid
The required counseling is available from the USU Family Life Center Housing and Financial Management program. For more info: 435-797-7224
Find out if a reverse mortgage might be suitable for your circumstances at: https://www.lendingtree.com/reverse-mortgage-index
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