Reverse mortgage

An older couple calculates their finances at the kitchen table.

Community Action for Suburban Hennepin offers reverse mortgage counseling that allows homeowners to receive a loan against the home for additional cash. The loan is then repaid when the homeowner moves or sells the house. To qualify for a reverse mortgage you must:

  • Be at least 62 years of age or older.
  • Own a single-family home, townhouse, condominium, duplex, triplex, or fourplex.
  • The home must be owned free and clear or have a mortgage balance that can be paid off with the cash from the reverse mortgage.

To learn more aboutt the reverse mortgage program, contact Community Action for Suburban Hennepin at 952.933.9639, ext. 202 or 227, or visit www.cashenn.org/reversemortgage.htm.