Do you need a one-time payment to help pay for home improvements or property taxes? Consider a single-purpose reverse mortgage. Call the Area Agencies on Aging to explore this option at 1-800-677-1116. Ask for information about loan programs for home repairs or improvements or for property tax postponement. To find an agency near you, visit www.eldercare.gov.
Do you need money for another purpose altogether? Do as much homework as possible before contacting an HECM or proprietary lender. Below are some links that provide further information: