Roseau Times-Region - Serving Roseau County for over 100 Years - The Official Roseau County Newspaper

For many seniors citizens, their home is the most valuable asset they own. Some companies market the “reverse mortgage” as a way for seniors to convert this equity into cash to pay their bills or supplement their income.

A reverse mortgage is a loan that allows qualifying homeowners to borrow against the equity in their home, which may be paid out in cash installments or one lump sum.  The loan is generally repaid when the borrower moves or passes away.

To qualify for a federally insured reverse mortgage, you must be at least 62 years-old and live in your home. Before approving you for...