Reverse Mortgage · AZ · IL · TN
Your Home HasWorked Hard For You.
You've spent decades building equity in your home. A reverse mortgage is one way to access it — on your terms, without a required monthly payment. Let's talk through whether it makes sense for your situation.
What Is a Reverse Mortgage?
Access Your Equity. Stay in Your Home.
A reverse mortgage — technically a Home Equity Conversion Mortgage (HECM) — is a federally insured loan that allows homeowners 62 and older to convert part of their home's equity into cash.
Unlike a traditional mortgage, there is no required monthly mortgage payment. The loan is repaid when you sell the home, move out, or pass away. In the meantime, you continue to own your home.
It's not right for everyone — but for the right situation, it can be a powerful retirement planning tool. Sean takes the time to walk you through both the benefits and the obligations before you decide anything.
62+
Age Requirement
At least one borrower must be 62 years of age or older to qualify for a HECM loan.
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Primary Residence
The property must be your primary home — not a vacation property or investment rental.
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Sufficient Equity
Generally need to own your home outright or carry a low enough balance to pay it off at closing.
The Process
How It Works
01
Eligibility
You must be 62 or older, own your home as a primary residence, and have sufficient equity. A brief financial assessment is also required.
02
Counseling
HUD-approved counseling is required before you can proceed. This independent session ensures you fully understand the product and your options.
03
Appraisal & Approval
Your home is appraised to determine its current value, which affects the amount of equity you can access.
04
Receive Your Proceeds
Choose how you receive proceeds: a lump sum at closing, monthly payments to supplement income, a line of credit you draw from as needed, or a combination. No required monthly mortgage payment as long as the home remains your primary residence.
Common Questions
Setting the Record Straight
Common Concern
“The bank will own my home.”
The Reality
You retain ownership and title to your home throughout the life of the loan. The lender holds a lien, just like a traditional mortgage.
Common Concern
“My heirs will inherit debt.”
The Reality
The loan is non-recourse — the lender can only collect from the sale of the home, never from other estate assets. Your heirs can sell the property to pay off the balance, refinance it into a new loan, or walk away if the balance has grown beyond the home's value.
Common Concern
“I could be forced out of my home.”
The Reality
You can stay in the home as long as it remains your primary residence and you continue to pay property taxes, insurance, and maintain the property.
Start the Conversation
No Pressure. Just Answers.
A reverse mortgage is a significant decision. Book a free consultation and Sean will walk you through exactly how it works, whether you qualify, and whether it makes sense for your specific situation.
Book a Free Consultation