You retain title to your home as long as you meet the loan guidelines & requirements such as: maintaining the property, paying all property charges such as property taxes, homeowners insurance, flood insurance, and homeowners association dues (if applicable), and avoiding extended absences from the home longer than six months.
Many retirees use a reverse mortgage
It’s a specialized loan. However, program rates, fees, terms, and conditions are not available in all states and are subject to change
Failure to comply with the loan terms could result in a foreclosure
Reverse mortgages that are FHA-insured (Home Equity Conversion Mortgages) are insured by the Federal Housing Administration providing protection for both borrowers and lenders
You Home could be the biggest investment of your life. Don't fall for the many myths out there.