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Mortgage Madness (1/3): BBC2 - 29/10/2003

Original broadcast (UK): Wednesday 29 October 2003, 7.30pm, BBC TWO. [00:00 - 09:01 of 00:27:00] Part 1 00:00 - 01:10 : Introduction. 01:10 ...

Reverse mortgages – uncomfortable questions

(Photo Alain Valles, Photo submitted)

Many have heard the words “reverse mortgage,” but few have a clear understanding of how it works, the cost, the benefits or the process. As managing director of the 501(c)(3) nonprofit Helping Hands Community Partners , Inc., our mission is to educate people about senior housing options and, when appropriate, arrange a reverse mortgage for qualified individuals.

The first step is to get the facts. We have the most experienced, licensed professional loan officers with the arduous Certified Reverse Mortgage Professional (CRMP) designation of any nonprofit in New England. A great place to get information is the free How to Use Your Home to Stay at Home 36-page book. This is the official reverse mortgage consumer booklet approved by the U.S. Department of Housing & Urban Development and published by the National Council on Aging.

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