If the thought of a government shutdown makes your finances feel shaky, this episode is for you. I walk you through what a shutdown really looks like, how it affects new and existing reverse mortgages, and what steps you can take now to protect your home and cash flow. I use plain talk, real examples, and 22 years of experience to give you clear, practical steps you can use today.
What You’ll Learn
- What a government shutdown actually means for everyday services and for the Federal Housing Administration (FHA).
- How an FHA-insured reverse mortgage (HECM) works, in simple terms: who lends the money, who insures it, and how the loan is repaid.
- What happens to new reverse mortgage applications during a shutdown: likely timelines, possible delays, and when lenders might pause funding.
- What happens to existing reverse mortgages: why monthly payments and line-of-credit access continue, and why your loan remains protected.
- The role of mortgage insurance in protecting you and your heirs, and how non-recourse rules work if loan balances grow.
- Differences between FHA-insured HECMs and proprietary reverse mortgages, and when a proprietary loan might be an option.
- Practical steps to take now: questions to ask your lender, whether to apply now or wait, and how to keep a line of credit ready for emergencies.
- Real examples and simple scenarios that show how a shutdown could affect a typical Colorado homeowner aged 68–70 who relies on Social Security and modest savings.
This episode removes the guessing and the worry. You’ll leave knowing whether you can still count on your monthly reverse mortgage funds, how safe your credit line is, and what to do if you’re thinking of applying during uncertain federal funding. I explain the safeguards that protect you and your estate, and I give clear next steps so you can act with confidence. Tune in to get the facts, hear real stories, and learn how to keep your home and finances steady no matter what happens in Washington.
