Did you know that you can make payments to a reverse mortgage?  Many people think that since it is not required, that they can’t – and therefore they lose control over the loan balance.  That is another piece about reverse mortgages that is simply not true.  YOU always have control over it, just like you always own your own home.  It is true, that the way Home Equity Conversion Mortgages were designed to work, that they do not require mandatory monthly mortgage payments like a traditional mortgage. BUT, you can make payments; many people do.  They pay interest only, less than interest, more than interest – and they pay it whenever they want.  There is complete flexibility in this type of loan.  As long as you keep your property tax and homeowner’s insurance up to date, you have complete and total control over this very unique mortgage!  Please contact us for more information and we would be happy to explain more.