Alert
Close

Help Decide the Future of Aging. Join the White House’s Live Stream Today From Seattle. Learn more

Highlights

Open
Renew for 3 and attend Life at 50+ for free
You Could Choose Your Dream Vacation
Happy African American couple

Contests and
Sweeps

AARP’s Superstar
2015 Contest

Sing for a chance to win $5,000! Enter AARP’s Superstar 2015 Contest!
See official rules.

Driver Safety

Piggy bank on the road - AARP Driver Safety

Take the new AARP Smart Driver Course!

AARP Books

Visit the Money Section

Enjoy titles on retirement, Social Security, and becoming debt-free.

Jobs You Might Like

most popular
articles

Viewed

Ask the Experts

What to Do When an Interest-Only Mortgage Expires

Reverse mortgage may not be the answer

ATE mortgage rate

— Masterfile

Q. I'm 64. My interest-only mortgage is going up, but I can't afford it. Should I get a reverse mortgage? Or use all my savings to pay down what's owed and get a fixed-rate mortgage for the rest?

See also: What you should know about reverse mortgages.

A. You may not qualify for a reverse mortgage — generally you have to own your home outright or have a lot of equity in it. Using up your savings may not be wise. A housing counseling agency may be able to help you. Check with the Department of Housing and Urban Development at 1-800-569-4287.

Topic Alerts

You can get weekly email alerts on the topics below. Just click “Follow.”

Manage Alerts

Processing

Please wait...

progress bar, please wait

Tell Us WhatYou Think

Please leave your comment below.

Advertisement

The Cheap Life

Jeff Yeager Cheap Life Ultimate Cheapskate AARP YouTube web series save money

Catch the latest episode of The Cheap Life starring Jeff Yeager, AARP's Ultimate Cheapskate. Watch

Discounts & Benefits

From companies that meet the high standards of service and quality set by AARP.

Credit safeguards with AARP® Identity Theft Protection from TrustedID®.

AARP Credit card from Chase

Members can get cash back rewards on purchases with the AARP® Credit Card from Chase.

Man using cell phone outdoors

Members save on monthly service & usage fees and get free activation with Consumer Cellular.

Member Benefits

Join or renew today! AARP members receive exclusive member benefits & affect social change.

Advertisement

Advance your skills. Transform your career.

Explore your learning possibilities.