Halloween makes people think about ghosts and things that go bump in the night. Reverse mortgages often feel the same way — full of scary stories and bad guesses. I’ll walk you through the real facts, clear up the biggest misunderstandings, and show how a reverse mortgage can give you breathing room in retirement. I’ll use clear examples from real Colorado homeowners so you can hear how this works in everyday life.
What you'll learn
- The basic setup: what a reverse mortgage is, who qualifies (62+), and how it pays you instead of you paying the bank.
- How you keep ownership: why your name stays on title, what responsibilities you keep, and how long you can stay in the home.
- How heirs are protected: what happens when the last homeowner leaves, the non-recourse rule, and how heirs can sell or walk away.
- How the loan balance changes: why interest grows the balance, and how that affects future equity and inheritance.
- Real choices for getting money: lump sum, monthly payments, line of credit, or a mix — and the pros and cons of each.
- How reverse mortgages can support your goals: pay off an existing mortgage, reduce monthly expenses, protect savings, or delay Social Security.
- Common emotional worries: addressing the shame or fear of “failing,” and why using home equity can be a strategic financial move.
- The safety checks: HUD regulation, FHA insurance, and required counseling that protect borrowers and families.
By the end of this episode you will see that the scary stories about reverse mortgages are mostly myths. You will have clear, practical answers to the top five fears people hold — from losing the home to leaving nothing for the kids. If you own a home in Colorado, rely on Social Security or a pension, and want a way to ease monthly costs or handle unexpected bills, this episode will give you the facts you need to decide. Tune in, get the straight talk, and call me if you want to walk through your specific situation in plain numbers and clear steps. 303-513-2748.
