Reverse Mortgages for Seniors Explained | Irvine News

Presented by The Plant Daddies — rare specimen trees, living art, and hand-carved limestone vessels and fountains for extraordinary spaces. Showrooms in Los Angeles and Irvine. Listeners of Irvine News Today receive 10% off with code LANEWS10. theplantdaddies.com/lanews Reverse mortgages let seniors tap home equity without monthly payments—though interest piles up over time. Perfect if you’re cash-strapped, have no other assets, and want to stay put. FHA loans require at least one spouse to be 62; non-FHA can go as low as 55. The surviving spouse can often stay in the home for life if they handle upkeep. Borrowing limits vary: FHA caps at $1.2M, non-FHA up to $10M. Move out for over a year? Loan due. Heirs pay back only what the home sells for—no more. Not a magic fix, but a last-resort tool for aging homeowners. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/12e96d7c4ffca4e8