FHA reverse mortgages offer borrowers specific benefits and protections. Make sure you know if the loan you are inquiring about is FHA Insured. Then make an apples to apples comparison.  Situation: Julie is concerned about the loan they took out when Anthony got sick. The medical bills were piling up fast. They responded to a mailing from a lender that advertised a cash-out loan and no monthly payments. It seemed to be a solution for them to stay on top of their bills that did NOT require a monthly payment. Unfortunately, they didn’t fully understand the terms of this loan and they were under pressure. They signed the loan documents only to realize later that this was not an FHA Insured Reverse Mortgage (a HECM) but they had signed on for an “EQUITY SHARE” loan. That part was not really made clear on the [...]