Since it was signed into law in 1965, the Older Americans Act has provided a critical safety net for America’s elderly and vulnerable population. Oftentimes, OAA programs operate behind the scenes, with the people doing the work going unnoticed while keeping seniors from suffering during dire times.
In the May-June issue of Reverse Mortgage Magazine, we outline the policies and programs that have been in place for decades to keep our elderly neighbors from becoming hungry, cold or lonely.
Loan officers who specialize in reverse mortgages need to be aware of these programs and how they are used in their communities. That knowledge can prevent a reverse mortgage from hindering a client’s ability to fully tap into a program with limited eligibility based on income criteria.