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Reverse mortgages by state
The federal HECM rules are the same everywhere. What changes is the state law layered on top, and the property tax obligation that actually causes reverse mortgage foreclosures.
Written by Robert Erath, licensed mortgage loan originator, NMLS #297076, originating since 2004.
Licensed in eight states
Two of them — New York and California — add real statutory protections on top of the federal programme. The rest follow HUD's rulebook. All eight differ sharply in the thing that matters most day to day: what you owe in property tax, and which senior relief programmes you may not be claiming.
New York
New York regulates these more tightly than almost any state, and the property tax burden makes one obligation matter more here than anywhere else.
Reverse mortgages in New York →New Jersey
The highest property taxes in the country, and three overlapping relief programmes most seniors are not fully claiming. Get that right before you borrow.
Reverse mortgages in New Jersey →Pennsylvania
Moderate values, wide variation between counties, and one of the most useful and most underclaimed senior tax programmes in the country.
Reverse mortgages in Pennsylvania →Maryland
Strong equity around the Washington and Baltimore corridors, and a tax credit that is income-based rather than age-based — which is why so many eligible seniors never apply.
Reverse mortgages in Maryland →North Carolina
Two senior tax programmes that look similar and are not. One reduces your bill; the other defers it and creates a lien — which interacts directly with a reverse mortgage.
Reverse mortgages in North Carolina →Georgia
Senior tax exemptions here are set county by county rather than statewide, and in some counties they eliminate the school portion of the bill entirely.
Reverse mortgages in Georgia →Florida
Strong homestead protection and no state income tax — but the obligation most likely to put a Florida borrower in default is not the tax bill. It is the insurance.
Reverse mortgages in Florida →California
A mandatory seven-day cooling off period, the highest values of any state we serve, and Proposition 13 quietly doing more for your budget than most people realise.
Reverse mortgages in California →Not in one of these states?
Then we cannot originate your loan, and we will tell you so on the first call rather than after an appraisal. A reverse mortgage is available in all fifty states — use NMLS Consumer Access to check any originator who contacts you, and HUD's counselor directory to find independent advice wherever you are.
Ask a real question, get a real answer
You do not need to be ready to apply. Most people who call are still deciding whether this is even the right idea — and quite often it isn't. You will be told so.
- No credit pull to start. Nothing here touches your credit report.
- You speak to Robert — not a rotating pool of call-centre reps.
- Bring your family. Adult children on the call are welcome and usually a good idea.
- Your information stays here. Never sold to a lead network. Ever.
Send a question
Answered by a licensed originator, usually within a few hours.
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