the History of the Reverse Mortgage
The reverse mortgage is one of the most developed loan products in the mortgage industry. From its birth in 1961, the reverse mortgage has been through many developmental milestones to make it the financial tool it is today.
According to the Reverse Review, the product has seen rapid growth, expansion of additional innovative loan products, improvement of practices, increased consumer awareness, and a redefining of the options available to seniors. Take a moment as we look back at the major turning points and milestones in the history of the reverse mortgage.