Safeguards

• Borrower name remains on title.
• No monthly payments to make until all borrowers move out or the home is sold.
• Required reverse mortgage counseling before Lender can proceed (Counseling Agency approved by FHA).
• Equity running out is a non- event. Borrower will continue to receive monthly checks or can draw on line of credit but will never be required to pay back more than the loan balance or what the house sells for on the open market, whichever is less, so no debt passes to heirs.
• FHA guarantees monthly income checks for life even if your house declines in value.
• FHA limits the fees that can be charged.