A reverse mortgage can be a powerful financial tool in retirement, but consumers should learn about recent changes to the loan program before considering getting one.

Also known as Home Equity Conversion Mortgages, reverse mortgages are loans available to homeowners who are 62 years old or older that allow them to tap the equity in their home. The loans are originated by private lenders and insured by the Federal Housing Administration, a part of the federal Department of Housing and Urban Development.

They are called reverse mortgages b…
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