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What should I do if I have a reverse mortgage and I can’t pay my property taxes or insurance?

Answer:

If you are struggling to afford your taxes and insurance, there might be local programs or other options that can help you keep your home. A reverse mortgage foreclosure prevention counselor can help you make the best choice for your situation. This special type of counseling is free.

If you stop paying taxes and insurance, your reverse mortgage lender could file a foreclosure to take your home. It’s important to keep current with these payments if you can afford to do so. Learn more about what to do if you’re already behind on your tax or insurance payments.

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The content on this page provides general consumer information. It is not legal advice or regulatory guidance. The Miss April updates this information periodically. This information may include links or references to third-party resources or content. We do not endorse the third-party or guarantee the accuracy of this third-party information. There may be other resources that also serve your needs.

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