AARP - Reverse Mortgage Terms

Posted by Charles D

February 11, 2009

AARP is a nonprofit membership organization of persons 50 and older dedicated to addressing their needs and interests. According to the AARP website:

Membership in AARP is open to any person age 50 or above. With 25 percent of the U.S. population in the 50+ category, nearly half of all people in this age bracket are AARP members. However, U.S. citizenship is not a requirement for membership; over 40,000 members live outside the United States. People also do not have to be retired to join. In fact, 44 percent of AARP members work part time or full time. For these reasons, AARP shortened its name in 1999 from the American Association of Retired Persons to just four letters: AARP. The median age of AARP members is 65, and slightly more than half of them are women.

AARP, through its AARP Foundation, has taken a leading role in advancing the concept of reverse mortgages as a viable retirement funding tool. AARP provides comprehensive consumer information and educational materials for persons interested in obtaining a reverse mortgages as well as support for housing counselors in their work with older homeowners seeking reverse mortgages.

Neither AARP nor the AARP Foundation endorses any reverse mortgage product or lender or my website.