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Read on to learn more about how reverse mortgages work, qualifying for a reverse mortgage, getting the best deal for you, and how to report any fraud you might see. If you’re shopping around for a mortgage, search for the best rates at Bankrate.com.. Wells Fargo abruptly stopped offering reverse mortgages in late June 2011.
A reverse mortgage is a type of mortgage loan that the FHA (Federal Housing Administration) insures. This loan is available only to homeowners aged 62 or older. Florida Reverse Mortgages Currently, the Florida HECM (Home Equity Conversion Mortgage) is the most popular reverse loan program in Florida as well as the rest of the country.
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