In my line of work, I am often asked the question “How do I know who is the best reverse mortgage lenders?” Now this question may seem like it elicits an obvious response but as with all financial products, there is never an obvious answer. The best reverse mortgage lender will vary widely according to your personal circumstances. What is right for you may not be right for someone else.
It may be that a HUD endorsed HECM Reverse Mortgage may be right for you. Typically, these tend to involve a longer and more complicated process to take one out but when you get there you have the security of knowing it is Government backed. These may seem best to some people but others may prefer the simplicity of a non-HUD endorsed reverse mortgage from a private commercial lender.
These simple examples stress the need for you to get solid, independent advice from a trusted source who can take into account your desires and circumstances.