The Consumer Financial Protection Bureau offers a guide for older homeowners called You have a reverse mortgage: Know your rights and responsibilities. The guide is the latest tool in the CFPB’s suite of reverse mortgage resources, which provides easy-to-understand information for prospective and current reverse mortgage borrowers.

The guide is designed to assist reverse mortgage borrowers meet their ongoing responsibilities under a Home Equity Conversion Mortgage, the most common type of reverse mortgage loan. 

Topics include:

  • The reverse mortgage loan requirements
  • How a borrower may pay-off their reverse mortgage loan
  • What happens after the borrower moves out of the home or dies
  • What default means and how a borrower may find help
  • What heirs may need to know

The guide also includes a glossary of commonly used terms and a list of resources that borrowers can use to find help.

The CFPB’s reverse mortgage resources are free and available to download or order.

For more information on reverse mortgages, visit