Not Everyone in Lake Oswego Oregon May Apply for a Reverse Mortgage. There are certain standards you need to fulfill to become eligible for a reverse mortgage. The most widespread form of a reverse mortgage loan is known as Home Equity Conversion Mortgage (HECM). The Federal Housing Administration (FHA), a component of the Department of Housing and Urban Development (HUD), insures HECMs. Note: This web site contains information about HECMs, which are the most common type of reverse home mortgage. To qualify and apply for a reverse mortgage in Lake Oswego Oregon: • You must be no less than Sixty two years of age. • Your home must be your…