The Reverse mortgage world has really changed in the last little bit. It used to be that only the FHA insured HECM (Home Equity Conversion Mortgage). Now, there are Jumbo Reverses with loan amounts up to $4,000,000.00. This loan can be a fixed rate, a line of credit first or a line of credit second. Very forward thinking.
I'd be happy to answer any questions about how a Reverse mortgage fits into the older client's financial plan.
Guaranteed Rate, Inc.