When a reverse mortgage borrower passes away, the loan becomes due—but that doesn’t mean heirs automatically lose the home. They typically have several months to decide whether to repay the balance, sell the property, or allow the lender to claim it. FHA-insured reverse mortgages (HECMs) include non-recourse protections, meaning heirs never owe more than the home’s current market value. Learn what happens step by step and how to prepare your family in advance.

A reverse mortgage can turn home equity into steady income or a line of credit during retirement without adding monthly mortgage payments. The proceeds can cover living expenses, healthcare costs, or home improvements while allowing you to age in place. However, the loan balance grows over time, reducing future equity. Learn how reverse mortgages fit into retirement planning—and when alternatives like downsizing, a HELOC, or a home equity investment might make more sense.

Reverse mortgage eligibility goes beyond age and home equity. Lenders evaluate your credit, income, property taxes, and insurance history to ensure you can meet ongoing obligations. Even with low income or imperfect credit, many borrowers qualify if they show adequate residual cash flow or agree to set aside funds for taxes and insurance. This guide explains what underwriters review, how to strengthen your profile, and how financial assessment rules work under the FHA-insured HECM program.

Reverse mortgages (usually FHA-insured HECMs) come with upfront and ongoing costs: origination fees, mortgage insurance, third-party closing costs, potential servicing fees, and interest accrual. Your total cost depends on your home value, the youngest borrower’s age, expected rates, and required set-asides (e.g., for taxes/insurance). Compare quotes and structures (lump sum, line of credit, tenure/term) and weigh them against alternatives like a HELOC, home equity loan, cash-out refinance, or a home equity agreement.

From FHA insurance to payout limits and repayment triggers, there are rules and risks that can surprise even seasoned borrowers.

The IRS has issued its most sweeping tax-law updates in years — even as it furloughs nearly half its workforce amid a federal shutdown.

Your maximum cash-out refinance amount depends on your home’s current value, your outstanding mortgage balance, and your lender’s loan-to-value (LTV) limit. Most lenders allow you to borrow up to 80% of your home’s appraised value, minus what you still owe. This guide shows you how to calculate your potential cash-out amount, understand lender limits, and avoid overborrowing.

A past bankruptcy or foreclosure doesn’t have to end your home financing options. With enough time, on-time payments, and rebuilt credit, many homeowners qualify for a cash-out refinance again. Here’s how seasoning periods, credit rebuilding, and equity requirements work — plus alternatives if you’re not ready yet.

A cash-out refinance after divorce can help one spouse keep the home by using equity to buy out the other’s share. You’ll replace the joint mortgage with a new one in your name and use the cash-out portion to pay your ex-spouse — turning shared property into sole ownership.

A cash-out refinance can help business owners tap their home equity to fund growth, pay off high-interest business debt, or improve cash flow. You’ll replace your current mortgage with a larger one and use the difference as business capital — often at a much lower rate than business loans or credit cards.