Ask The Expert: In this current economic climate, is it more difficult to get a reverse mortgage?

posted by: Mark Schmidt Reverse Mortgage Specialist (773) 504-9633

No, it is not more difficult to get a reverse mortgage in this economic climate.  Reverse mortgages have been insulated from the recent turmoil because they are government insured.  With this government backing, those who get a reverse mortgage are protected in the event the lender they choose ever goes out of business.

Also, there are no credit or income requirements to get a reverse mortgage so, while other lenders are tightening their lending standards, reverse mortgage lenders continue to make loans.  In fact, FHA recently expanded the reverse mortgage program to make it even better.

Back to Reverse Mortgage Expert

Leave a Comment

Enter the word shown above in the textfield to the left.
  Yes, I would like to receive caregiving updates from