An AARP Reverse Mortgage survey concluded that the majority of senior homeowners that have obtained a reverse mortgage loan are happy with their decision. The AARP survey also said that a reverse mortgage has greatly improved the lives for 93% of the senior borrowers that have tapped into their home equity through the FHA insured HECM reverse mortgage loan.
AARP Reverse Mortgage Role
AARP has worked tirelessly with HUD and FHA to ensure that this unique home equity loan is the best it can be. They have insisted that the HECM (Home Equity Conversion Mortgage) has all the necessary consumer protections in place so that the statistics presented in this survey continue to be the case for all future reverse mortgage loan borrowers. AARP has also had great influence over the educational requirements and the various protocols used by the National HUD approved counseling agencies as well as the individual counselor testing criteria.
The video below is a testimonial that supports the AARP reverse mortgage survey findings. The couple in the video are representative of thousands of satisfied retired homeowners that have taken advantage of a reverse mortgage in recent years. Click here to read the AARP Reverse Mortgage Survey.
