Not All People in Springfield Oregon May Apply for a Reverse Mortgage. There are certain specifications you have to fulfill in order to be qualified for a reverse mortgage. The most widespread kind of a reverse mortgage loan is known as Home Equity Conversion Mortgage (HECM). The Federal Housing Administration (FHA), a an integral part of the Department of Housing and Urban Development (HUD), insures HECMs. Note: This web site has details about HECMs, which are the most common form of reverse home mortgage. To qualify and apply for a reverse mortgage in Springfield OR: • You need to be a minimum of 62 years old. • Your house needs…