As people grow older and head towards retirement, the affordability of some things that they are used to paying for becomes more challenging. A mortgage is typically the most costly expense a person has in their lifetime. After retirement or in the years leading up to retirement, it may become increasingly difficult for a person to be able to pay their mortgage as easily as they once did. This can be due to several surrounding factors. In Seattle, Washington, those who are ages 62 and older that follow FHA reverse mortgage guidelines can find safe mortgage options through reverse mortgage loans provided by local lenders.

In the United States between 2003 and 2007, reverse mortgages increased from 18,000 to over 100,000 annually. Reverse mortgage qualifications generally depend on age of the recipient, value and location of the home, and the cost of the loan. Income and credit scores are not factors in qualifications for reverse mortgage for seniors.

In most cases, reverse mortgage guidelines allow for a recipient to choose how they receive the loan. It can be taken out as a lump sum, a line of credit, or monthly payments in many cases. If the loan holder dies, neither the loan recipient nor their heirs are responsible for the debt created by the reverse mortgage. For a safe mortgage option, individuals in Seattle, Washington can seek a reverse mortgage loan from lenders in the area.