Author Archives

Dave Ramsey Offering Bad Advice on Reverse Mortgages

October 1, 2025     14 comments

Does Dave Ramsey know much about reverse mortgages?  Dave does a hit piece on reverse mortgages, pointing out some of the less popular aspects of the loan.  However, he is either OK with exaggerating the truth or reveals his ignorance about how reverse mortgages work. [arlo_toc] Is Dave right about Reverse Mortgages? Firstly, let’s...
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How Government Shutdowns Affect Reverse Mortgages

September 29, 2025     2 comments

FHA & HECM Operations During a Federal Government Shutdown When the U.S. government shuts down because Congress hasn’t approved funding, many HUD and FHA offices run with limited staff and services.  For the Home Equity Conversion Mortgage (HECM) program, here’s what matters: What Stays Open Loan Servicing & Payments — If you already have a HECM, your monthly draws and...
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Reverse Mortgage Age Requirements in 2025

September 27, 2025     22 comments

If you’re exploring a reverse mortgage, the first question is simple: how old do you need to be? Quick Answer:  For a federally insured Home Equity Conversion Mortgage (HECM), the most common reverse mortgage, you must be at least 62 years old when the loan closes.  That rule remains unchanged for 2025. Some private or "jumbo" reverse mortgages allow borrowers as...
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Reverse Mortgage Property Requirements – New for 2025

September 26, 2025     130 comments

I would like to know the exact reverse mortgage property requirements, such as central heating, water wells, septic systems, etc.  To hear these reverse mortgages advertised, one might get the impression that getting one is very simple.  However, after some preliminary inquiries, it's beginning to look like everything else involving the government can become incredibly complicated. Updated September 2025 with...
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Reverse Mortgage Pros and Cons – Compare Costs, Risks & Benefits in 2025

September 20, 2025     15 comments

A reverse mortgage, also known as a Home Equity Conversion Mortgage (HECM), allows homeowners aged 62 and older to convert their home equity into cash without making monthly mortgage payments.  It can be a powerful way to stay in your home and improve retirement security, but it’s not the right fit for everyone.  This guide breaks down the real pros...
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Shocking Truth About Condominiums and Reverse Mortgages

September 16, 2025     82 comments

Many senior borrowers eligible for reverse mortgages or about to become qualified and live in condominium projects have yet to learn of the surprises that may be waiting for them.  You may know neighbors who live in your project, currently have reverse mortgage financing, and have heard about how easy it was. Unfortunately, changes in condominiums and HUD programs in...
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5 Options When You Don’t Qualify for a Reverse Mortgage (2025 Guide)

September 15, 2025     2 comments

If you've applied for a reverse mortgage and found that you don't qualify—or the amount offered isn't enough to pay off your existing mortgage—you're not alone.  Many homeowners are surprised when changing interest rates or updated HUD limits reduce the proceeds they're eligible for. The good news?  Even if you don't qualify today, you still have options.  In this guide,...
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Debunking the Top 10 Reverse Mortgage Downsides

September 9, 2025     17 comments

Reverse mortgages have long been surrounded by misconceptions, leading many to believe they come with significant downsides.  In reality, many of these concerns are based on myths.  In this guide, we will debunk the top 10 common claims about the downsides of reverse mortgages, providing you with the clarity you need. Whether you're exploring reverse mortgage options for yourself or...
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Reverse Mortgage Definition and Glossary (A-Z)

September 1, 2025     75 comments

[arlo_toc] Reverse Mortgage (Definition) A reverse mortgage is a home loan for borrowers typically aged 62 and older that allows you to convert a portion of your home equity into tax-free cash without required monthly mortgage payments. You retain title and are responsible for continuing to pay property taxes and homeowner's insurance. Interest accrues and is added to your balance...
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Top 10 Reverse Mortgage Counseling Agencies (Free & Online Availability)

September 1, 2025     17 comments

The U.S. Department of Housing and Urban Development (HUD) requires that homeowners considering a Home Equity Conversion Mortgage (HECM) receive essential counseling.  This counseling, provided by a HUD-approved HECM agency, covers the details and alternatives of reverse mortgages. To assist you, we are required to offer a list of approved reverse mortgage counseling agencies.  This list includes five nationwide companies...
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