During the mortgage crisis, the vast majority of jumbos were adjustable-rate mortgages and hybrid adjustable-rate mortgages, which started at low fixed rates and switched to adjustable interest rates at the end of a set time period typically of five, seven or 10 years, said Keith Gumbinger, vice president at HSH.com, a mortgage-information website.

WSJ: Fixed-Rate Jumbo Mortgages Make a Comeback

While most HECM reverse-mortgage options carry adjustable rates and offer a line of credit or annuity-like payouts over time, the sole fixed-rate HECM choice is available only with a lump-sum payout.

WSJ: Rethinking Reverse Mortgages, Part 2: Pitfalls and Dangers

My wife and I were separated at the time, and were in the midst of a possible divorce and experiencing some financial distress, including an adjustable rate mortgage (ARM) increase and out of pocket costs for advanced marriage counseling.

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