Reverse Mortgage Guidance
Reverse mortgage guidance, explained plainly
A reverse mortgage can be a good tool for one family and a bad idea for the next. We don't sell them, which means we can tell you which one you are.
Most often it comes up when a couple wants one spouse to stay in the home while the other needs paid care.
How we help
- We explain in plain terms how a HECM works: no monthly payment, interest accrues, the loan is repaid when the home is sold or the last borrower leaves.
- We're upfront about the tradeoffs — closing costs, less equity for heirs, and the requirement to keep up taxes, insurance, and upkeep.
- We compare it against the alternatives: selling, a home equity line, family contributions, VA benefits, or long-term care insurance.
- If it fits, we can identify an independent lender who will explain it the same way we did — the loan itself is theirs, not ours.
Resources we can point you to
These are independent providers and resources we know or have vetted. They contract directly with you and deliver the service themselves — our role is helping you identify the right fit.
- HUD-approved reverse mortgage counselors (counseling is required)
- Local lenders who handle HECM loans
- Elder-law attorneys and financial planners for the bigger picture
- Traditional lenders and home equity options for comparison
The honest part: our role, cost, and how this works
Our guidance is free and we are not a lender. Reverse mortgages carry real closing costs and ongoing interest. If a reverse mortgage isn't right for you, we'll say that plainly.
Questions families ask
Can the bank take the house?
Not as long as the borrower lives there and keeps taxes, insurance, and maintenance current. The loan becomes due when the last borrower sells, moves out permanently, or passes away.
Does a reverse mortgage work if we're moving to assisted living?
Usually not for the person moving out — the loan comes due when the borrower permanently leaves the home. It fits better when one spouse stays.
Will it affect Medicaid?
It can, depending on how the money is held. Talk to an elder-law attorney first; we can help you identify one.
Related help
Where we help with this
Let's figure this out together.
One conversation is usually enough to turn a pile of questions into a plan. It's free, and there's no obligation of any kind.