Reverse Annuity Mortgage Program Helps Montana Senior Homeowners Stay in their Homes

HELENA, Mont. – The Montana Department of Commerce (Commerce) announced today that more than $2 million of loan funding is available for income-eligible senior homeowners to receive extra monthly income while being able to stay in their own homes. The low-interest loans are provided through a Reverse Annuity Mortgage (RAM) program offered by the Montana Board of Housing, which is administratively attached to Commerce.

"Many senior citizens in Montana own their own homes and have little or no remaining mortgage debt. Those who live on a fixed income might find they could benefit from an additio...

 

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