Reverse mortgage seminar in Long Beach
A free seminar on reverse mortgages will be held at 2 p.m. Jan. 2, 2015, at Long Beach Library. For more information, call 516-432-7200. Credit: iStock
There is a lot of information and misinformation about reverse mortgages. There also have been recent changes in the rules of the program that allow homeowners 62 and older to convert some of the equity in their homes into cash. Officially known as Home Equity Conversion Mortgage program, it is insured by the federal government.
If you're thinking about a reverse mortgage and want to find out whether it is right for you, a free seminar at Long Beach Library will offer some answers.
Among the topics covered are whether you qualify for a reverse mortgage, rules governing its payback and the ways you can access the cash if you are approved.
The seminar is Saturday, Jan. 10, at 2 p.m. For more information, call 516-432-7200.
