Do you fully understand how these loans work?

 Reverse mortgages are quite different from any other loan, and the risks to borrowers are unique.

Before considering one, you need to do your homework carefully and thoroughly. A reverse mortgage is a major financial decision, and you can’t afford to find out too late that you misunderstood or were not aware of any important facts about these loans. Read this entire booklet. Then, for more information and answers to your questions, request a reverse mortgage

counseling session as described in Part 5 of this booklet. If the counselor doesn’t know the answers to all of your specific questions, request counseling from a different counselor or agency.