How Reverse Mortgages Work and Who They're For

Reverse mortgages let homeowners 62 and older access their home equity without monthly mortgage payments. Here’s how they work and who they’re for.

The Basics

With a reverse mortgage (HECM—Home Equity Conversion Mortgage), you’re not making monthly payments to the lender. Instead, the lender pays you—via a lump sum, line of credit, or monthly payments. You stay in your home; the loan is repaid when you sell, move out, or pass away.

Who It’s For

Reverse mortgages are designed for seniors who want to supplement retirement income, pay for healthcare, or eliminate a current mortgage payment while staying in their home. You must be 62+, live in the home as your primary residence, and have sufficient equity.

Is It Safe?

Yes. HECMs are federally insured and regulated. There are costs (origination, insurance, servicing), and it’s important to understand how the loan affects your equity and heirs. I walk every client through the details so you can decide with confidence.

Next Step

If you’re 62+ and curious whether a reverse mortgage could help you, we can review your situation in a free consultation—no obligation.