Anyone seriously considering a reverse mortgage should take the time to study the subject carefully. There’s no escaping the fact that reverse mortgages are complex. Even though HUD requires potential borrowers to go through formal counseling, this is no substitute for reading on your own. Being familar with reverse mortgage basics and prepared with tough questions will help you get the most value from counselling sessions and ensure you ultimately make the right choice.

There is a wealth of excellent, free reverse mortgage information available on the internet. The AARP booklet Home Made Money is a must read and can be downloaded or ordered for free. There are many other excellent, free guides and articles that provide thorough (and generally favorable) overviews. In a future post we will list the best of these.

But to really to really understand all aspects of reverse mortgages and make a sound decision, you allso need to read some of the well-thought out critiques also available. Below are links to two that generally take the view that reverse mortgages are sensible only as a “last resort” for destitute seniors.

1. Rethinking Reverse Mortgages By Tracy Byrnes

2. Reverse Mortgages for Seniors American Institute for Economic Research

While you may or may not agree with the conclusions drawn (I don’t), it would be a mistake not to reflect on the points made prior to deciding whether a reverse mortgage makes sense for you.

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A Few More Related Articles of Interest:

Reverse Mortgage Knowledgebase

Best Free Reverse Mortgage Information

Introducing Reverse Mortgage Information Forums

Other Reverse Mortgage Calculators

‘Guaranteed Income Gap’ Study Has Implications for Reverse Mortgage Borrowers