Reverse Mortgage Myths

Myth 1: They'll own your home.

Myth 2: The house must be paid off.

Myth 3: The bank sells your house.

Myth 4: It's cheaper to downsize.

Myth 5: You won't have anything left over.

Myth 6: You could owe more than it's worth.

Myth 7: It could negatively impact your benefits.

Myth 8: Restrictions on how to use the money.

Myth 9: You don't have to pay taxes on the home.

Myth 10: They are only for people in dire need.