While reverse mortgages are typically done jointly by both spouses in a couple, there are situations where both individuals may not be eligible. In situations like this, one spouse is named as the borrower, and the other is not included in the loan agreement. When the borrowing spouse faces certain circumstances, the non-borrowing spouse may have legal protections in place, subject to various factors.

A Reverse Mortgage, or a Home Equity Conversion Mortgage (HECM), is a valuable financial tool for Seniors seeking to tap into their home equity without selling their property. One of the attractive features of a HECM is the concept of "non-recourse." Understanding the meaning and significance of the non-recourse feature in a Reverse Mortgage HECM, demonstrates how it can be a crucial layer of protection for borrowers and their heirs.

Reverse Mortgage proceeds can provide retirees with better control and ownership over their financial strategies and retirement portfolios. There is no restriction on usage of Reverse Mortgage funds.