AARP Reverse Mortgage Reports
The ultimate consumer report published by AARP is called “Reverse Mortgage Loans – Borrowing Against Your Home.” This comprehensive guide replaces an older report called, “Home Made Money.” The AARP Reverse Mortgage Education Project (RMEP) published this consumer report along with many others, to help people understand these unique home equity loans.
If you think this type of loan might be a good option for you, why not request a personalized quote today? There is no obligation or sales pressure when you get a quote from us.
The AARP consumer guide is a detailed, 44 page report outlining everything you should be aware of when considering a HECM (Home Equity Conversion Mortgage.) Some of the topics covered are; eligibility, benefits, costs, selecting a HUD approved counselor, choosing a lender, and selecting an interest rate, just to name a few. If you are serious about learning more about this unique loan, the AARP Consumer Guide is a great place to start.
In addition to “Reverse Mortgage Loans – Borrowing Against Your Home,” AARP published several other consumer guides that will help you with your initial investigation into this home equity loan. These reports are a brief overview and will answer many of your preliminary questions about reverse mortgage loans and whether one is right for you or not. Reversing your thinking is the hardest part of the educational process that is necessary before you will be comfortable making a decision. You are invited to download the AARP consumer guides here:
- “A New Kind of Loan: In Reverse”
- “Basic Loan Features”
- “A Rising Debt Loan”
- Loan Types and Costs by AARP
- “AARP Reverse Mortgage Fact Sheet”
- “AARP Reverse Mortgage Questions to Ask in Advance”
AARP Glossary of Terms
Another helpful resource provided by AARP to assist seniors and their advisers is the Glossary of Terms. Because these loans are highly complex it is a wise decision to review the terminology that will be used if you proceed to the application process. AARP’s efforts to help educate the public about this type of loan includes several fact sheets, a comprehensive consumer guide, video tapes and this glossary of reverse mortgage terms.
AARP Long Term Care Insurance Report
AARP offers consumer tips about how to shop and compare prices and features for long term care insurance. This report points out what the typical long term care insurance policy covers, when the right time is for you to buy such a policy and how to determine which policy is right for you. Download a copy of the AARP Long Term Care Insurance report here.
AARP Reverse Mortgage Shoppers Survey
This AARP Public Policy Institute research report called, “Reverse Mortgages: Niche Product or Mainstream Solution?” presents the findings from a survey of senior borrowers. Homeowners were asked why they looked into getting a reverse mortgage and what they had used the money for. Respondents that ultimately did not apply for the loan were asked what deterred them from doing so. The study also measured consumer satisfaction with the loan itself, the lenders, and the counselors. Obtain your free AARP Reverse Mortgages Shoppers Guide here.
Bankruptcy Research Report
AARP helped to fund research for a report called “Generations of Struggle.” The report reveals grim news for older adults. The rate of bankruptcy filings for those that are 65 and older has more than doubled since 1991. Americans age 55 or older have experienced the sharpest increase in bankruptcy filings. The report warns of increasing financial pressure on families as they age, especially in light of recent research suggesting a relationship between financial strain and health problems for older people.