Can I make payments on a reverse mortgage if I wish to?

Sure, but why. One of the biggest advantages of a reverse mortgage is allowing the home's equity pay your interest for you. You never run out of equity for interest no matter how long you live or how low your property value goes. If when you pass, there is negative equity, the bank collects the shortage from the insurance pool you have paid into. If there is equity, your heirs get to decide =if they want to sell it or if the equity is very small, they can still give it back to the bank. You may have a very compelling reason for wanting to, but without more information as to why, I would still recommend against it. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Certified by the National Association of Mortgage Professionals and Licensed in California and Arizona ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Great Question! You would really want to talk to a person that specializes in Reverse Mortgages. Before you talk to them however, I would strongly suggest you sit down and make a list of your goals in obtaining a reverse mortgage. On the surface, "making payments" on a Reverse is inconsistent with the reason for one - but with an understanding of why you would want to do that will help the lender you sit down with. Good Luck.

Yes you can make payments on a Reverse Mortgage. The bigger question is...Why do you want to make payments on a reverse mortgage. Has something changed in your life since you entered into your reverse mortgage? Feel free to call me and we can go over your situation. If your are trying to save your homes positive equity, and you plan on making regular payments; you may have better options than your current reverse mortgage.

Absolutely...remember there is no prepayment penalties on a reverse mortgage. Everyone's scenario is different and your reason for wanting to make payments should be discussed with your financial advisor to determine if it is the best solution for you. There can be many factors that makes that decision. My advice is to always ask for advice form your trusted advisor. If your are not currently working with a financial advisor, I would be happy to speak with your further and recommend someone to you.Regards,Cyndi Meyers, CSA, CLTC Integrity Home LoanSales Manager/Reverse Mortgage Division