Reverse Mortgage Facts

The reverse Mortgage program has been around for about 20 years. However, about 65% of the total loans that have been originated have occurred within the last several years. According to an October 2008, U.S. News article there were approximately 6,600 reverse Mortgages originated in the year 2000, but in the year 2007, there were over 107,000 reverse Mortgage originated. This is a huge increase and there are a couple of underlying reasons behind the huge increase.