FHA loan is 100% government guaranteed loan!

There are 4 types of reverse mortgages but people usually choose the FHA HECM loan because they know that this loan is guaranteed by the government. The FHA HECM is the Government replacement for old style reverse mortgages. There is no safer mortgage in America today. Never have there been more options available with the FHA HECM. Choose from a low, secure fixed rate of 5.56%, or lock in a high value loan with a growing line of credit option or choose an option with guaranteed monthly payments to you, for life. The FHA Reverse Mortgage guarantees that you retain title to your home along with full rights and responsibilities of home ownership. You can sell your home at any time, make monthly payments (only if you choose to), pay the loan off in part or in full, there is no prepayment penalty – and, if you should pass while in the program, your home will transfer to your heirs, not the bank and not the government.

Now people are awaking and getting knowledge and the good thing is that they have the reverse mortgage information. People choose the FHA loan because FHA Mortgage Insurance gives you guaranty that your loan is 100% Government Guaranteed. Even if your reverse mortgage lender should go out of business, the US Government guarantees the terms of your contract. And, if your home should ever fall in value below the amount on the note, the FHA Mortgage Insurance will cover whatever shortfall there is.