Myth 1: The lender will own my home.

You, your family, or your estate continues to retain ownership of the home. The lender’s interest is limited to the loan balance and the lender will not take control of title.

Myth 2: I must have steady income and good credit

A reverse mortgage has no income or credit requirements.

Myth 3: I will owe more in taxes.

Reverse mortgage proceeds are considered borrowed funds and are therefore considered tax free.