720-541-5545 - Colorado
928-277-4476 - Arizona


The 5 Most Common Myths of Reverse Mortgage

Myth #1: “the bank will own my home” 

Fact: Just like any mortgage or equity loan, you continue to own the home, with your name on the title. You must meet your current obligations: keeping current with taxes, homeowners insurance, and maintenance.

Myth #2: “I probably won’t qualify because I already have a mortgage” 

Fact: a majority of people who get a reverse mortgage have a current mortgage and turning off current payments is one of the biggest advantages of having a reverse mortgage.

Myth #3: “I won’t be able to leave the home to my heirs”

Fact: Your heirs will still inherit the home. Just like a regular mortgage, they pay back the loan balance if they want to keep the home. They can also choose to sell the home and they will receive any remaining equity.

Myth #4: “Reverse mortgages are designed to take advantage of retirees” 

Fact: Reverse mortgages are specifically designed to help retirees. The ability to access home equity can provide a greater sense of security and more financial flexibility. The industry is also highly regulated: any lender offering reverse mortgage must follow strict guidelines and regulations that are in place to protect borrowers.

Myth #5: “A reverse mortgage should only be used as a last resort”

Fact: Many savvy homeowners use reversed mortgage strategically. For example, as a safety net in case of emergencies. In recent years, there have been a number of product advances that have made reverse mortgages attractive, and academic researchers at respected universities have developed effective strategies for using a reverse mortgage as part of an overall retirement plan.


720-541-5545 - Colorado

928-277-4476 - Arizona


Company NMLS ID: 2268418
Mortgage Loan Originator NMLS ID: 2216012

Equal Housing Opportunity

If you qualify and your loan is approved, a HECM loan must pay off your existing mortgage(s). With a HECM, no monthly mortgage payment is required. Borrowers are responsible for paying property taxes and homeowner’s insurance (which may be substantial). We do not establish an escrow account for disbursements of these payments. Borrowers must also occupy home as primary residence and pay for ongoing maintenance; otherwise the loan becomes due and payable. The loan must be paid off when the last borrower, or eligible nonborrowing surviving spouse, dies, sells the home, permanently moves out, or does not comply with the loan terms. A HECM increases the principal mortgage loan amount and decreases home equity (it is a negative amortization loan). These materials are not from HUD or FHA and were not approved by HUD or a government agency.