Reverse Mortgage Loan

What is a reverse mortgage?

A reverse mortgage is one in which a lender makes a monthly payment to the homeowner. These amounts, plus accumulated interest, are backed by a mortgage on the property. The lender is repaid in full when the property is sold or exchanges hands.

What is the City's program?

The City's program is a modified reverse mortgage because the City makes the program available only to pay all or a portion of a homeowner's property taxes. No monthly payments for living expenses are allowed.




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Last Updated: 04/09/2018

Contact Office of Community Development

(608) 266-4223


Mailing Address
Office of Community Development
P.O. Box 2627
Madison, WI 53701-2627


30 W. Mifflin St, 8th Floor
Madison WI 53703


Hours of Operation
The Office of Community Development is open during regular business hours, however, appointments are strongly encouraged.