Advertise on podcast: Reverse Mortgage Radio

It's Halloween, and I'm telling three ghost stories: the three fears that keep people from even asking about a reverse mortgage. We look at where each fear came from, the grain of truth inside it, and what's actually true once you flip on the porch light. Who really uses reverse mortgages today, whether the bank can ever take your home, and what your kids actually inherit. No pressure, no pitch, just the facts.

People sometimes ask how I ended up specializing in reverse mortgages. In this episode, I take you back to the choices that brought me to Colorado, my years in the Army, and the winding path through finance and traditional mortgage lending that led me to this work. I also share the moment I first looked into reverse mortgages. I was skeptical, too. I did my homework, learned how the program worked, and thought it was something I would consider for my own mother. More than two decades later, I still enjoy meeting with families, hearing their stories, and helping them understand what the numbers mean — including when a reverse mortgage may not be the right fit. This is a personal conversation about community, trust, and why education matters before any big financial decision.

This week I'm joined in studio by a Denver-area realtor who's known around town as the Condo King, and we're not talking about reverse mortgages — we're talking about the market you're actually living in. Here's the headline: closed listings were down 18% year over year in September. That's 2,898 closings this September versus 3,523 a year ago. Pending listings were down 13%. Gross sales volume was down 17%. The median closed price slipped from $650,000 in August to $635,000 in September, and it's off about 2% from a year ago. And for the first time in more than twenty years, more people are leaving Colorado than moving in. The trend is not your friend right now — but that doesn't mean it's all bad news. It's very much a buyer's market, and sellers have tools they may not realize they have, including seller-funded buydowns that can pull a rate down significantly in year one. We also go through three pitfalls for buyers and three for sellers. Buyers: skipping pre-approval, believing the 20% down myth, and underestimating the hidden costs of ownership. Sellers: overpricing, neglecting repairs, and skipping staging and presentation. If you're thinking about buying, selling, or wondering whether to stay put for a while, this episode gives you the real numbers from the people in the trenches.

Today I'm doing something a little different. Instead of digging into one rule or feature, I'm going to take a step back and give you the big picture: the three biggest benefits of the FHA-insured reverse mortgage — the Home Equity Conversion Mortgage — and then the three objections I hear most often, along with what I think the honest answer is to each. Because here's the thing: most folks who could really benefit from a reverse mortgage never look into it. They hear something from a neighbor, or they saw a negative headline, and that was the end of it. My job on this show is not to sell you anything. It's to give you the facts so you can make an informed decision for yourself and your family. So I start with the three benefits: no required monthly mortgage payment, the FHA mortgage insurance that protects your heirs and guarantees your money, and the growing line of credit that financial planners get excited about. Then I take on the three objections head-on — the upfront closing costs, negative amortization, and the loan amounts — and I don't pretend those concerns are silly. They're fair questions and they deserve straight answers. If you've ever dismissed a reverse mortgage based on something you heard once, this is the episode to listen to with an open mind.

"Bond market bust."  "Global bond rout deepens."  "10-year Treasury yields rise to a 24-year high at 5.304." If you've had the news on this week at all, you've heard some version of this. And if you're retired or close to it, it probably made your stomach drop a little. So today I'm doing three things. First, I'll explain in plain English why this is happening. Second, what it means for reverse mortgages. And third, why some of my past clients are probably actually smiling about these headlines — believe it or not. Here's the part most people never hear: on an FHA-insured reverse mortgage, the portion of your line of credit you don't use grows at one-half percent MORE than the rate you're charged. At today's rates, that means the rule of 72 kicks in — your available line roughly doubles in about ten years. When rates go up, that line grows even faster. It is not interest income, and I'll explain exactly why that distinction matters. It's increased borrowing power. I also cover what high rates mean if you're just starting to look, why a proprietary reverse mortgage can sometimes get you more when the FHA numbers fall short, and the old saying that sums up my whole philosophy: when's the best time to plant a tree? Twenty years ago. When's the second best time? Right now. No obligation, no pressure. My job is simply to help you understand how this program works so you can make an informed decision.

Last week I explained how interest rates work on a HECM. This week I want to take it a step further, because a HECM is not just a loan — in the right hands, it's a financial planning tool and a tax planning tool. So today I walk you through three strategies. The first two are financial planning strategies. The third is a tax planning strategy, and if you have a CPA or tax professional, I really want you to talk to them about it — especially if you're planning to move, because it works with the reverse mortgage for purchase program. I start with the engine behind all three: the growing line of credit. The part of the line you don't use grows every month at the same rate your loan balance grows — your interest rate plus the half-percent mortgage insurance. That single feature is what makes these strategies work. From there I cover the standby line of credit that protects your portfolio in a down market, how a reverse mortgage can cover long-term care insurance premiums while reducing what you pull from your portfolio every year, and finally the reverse mortgage for purchase strategy where you let the interest build up, then use your required minimum distribution to pay it down — potentially unlocking a tax deduction while the money goes right back into your growing line of credit. I also share the honest cautions: I'm a reverse mortgage professional, not a tax advisor. Please take this to your CPA. Every situation is different — my job is to educate you, not pressure you. No cost, no obligation, no pressure.

Ninety-five percent of the time, I talk about the FHA-insured reverse mortgage — the Home Equity Conversion Mortgage, or HECM. But this year, I've done more non-FHA, proprietary reverse mortgages than I have in the last five years combined. And I want to explain why. In this episode, I compare the HECM and proprietary reverse mortgages in plain language. I cover how they're the same — no required monthly payments, non-recourse protection, and the same five responsibilities — and then I dig into the differences that actually matter: minimum ages, how much money you can access, the 60% initial disbursement rule, origination fees, mortgage insurance, interest rates, condos, debt payoff, declining markets, and the line of credit guarantee. The short version? For most people, long term, the FHA-insured HECM is the better situation. But there are a lot of reasons it might not work for you — and that's exactly why I'm here to help you compare programs side by side. If you've ever wondered which type of reverse mortgage fits your situation, this episode is for you.

"Reverse mortgages are expensive." I've heard that more times than I can count over my 23-year career. Today, I take that claim apart piece by piece — and let you decide for yourself. To call anything expensive, you need something to compare it to. But a reverse mortgage is its own breed: it's the only mortgage that lets you live in your home for the rest of your life with never, ever a required monthly mortgage payment. So I walk through the three buckets of closing costs on the FHA-insured HECM — the upfront mortgage insurance premium, the origination fee, and the third-party costs — and explain exactly what each one buys you, from the lifetime guarantee and non-recourse protection to interest rates about three-quarters of a point below a conventional 30-year mortgage. I also share a special announcement for veterans. There's no VA reverse mortgage, and I've always thought that's a gap. So I've decided to do something about it — stick around to the end to hear my offer. If you've ever wondered whether the costs are worth it, this episode will give you the facts to decide for yourself.

Should I stay in my home as I age, or should I move to something better suited for the years ahead? It's a question almost nobody answers on purpose. Most people let it answer itself — until a fall, a health scare, or the loss of a spouse makes the decision for them at the worst possible time. In this episode, I walk through three good reasons to stay in your home and three good reasons to consider moving. I also explain why the timing of that decision matters just as much as the decision itself — because it's far easier to decide at 65 than it is at 85. Along the way, I show how a reverse mortgage can support you no matter which choice you make. If you're determined to stay, it can fund home modifications and in-home care. If you're ready to move, the HECM for Purchase program can help you buy a better home without a monthly mortgage payment. If you've been putting off this question, this episode is for you.

Social Security's trust fund is now projected to run dry by 2032 — just six years away — which could mean benefits cut to 78% of what's scheduled. I'm not an alarmist, but that's exactly the kind of headline that keeps people up at night. The good news? There are things you can control, starting with the equity in your home. In this episode, I break down three ways a reverse mortgage can help build real financial security and peace of mind. First, the growing line of credit — a FHA-guaranteed cushion that grows over time, can never be frozen, and acts as a financial shock absorber. Second, an alternate source of cash during down markets, so you don't have to sell investments at the worst possible time and pay taxes on the losses. And third, supplementing your fixed income with tax-free monthly payments so you can live comfortably with dignity. I also talk about why timing matters — because studies show people who use a reverse mortgage as a last resort are worse off than those who put it in place strategically, early on. If you've been wondering whether home equity could play a role in your retirement, this episode is for you.

Picture this: a couple retires in 2020 with $500,000 in savings. Five years later, they're 70 years old, and that half-million dollars doesn't stretch nearly as far as it used to. Colorado has been running at about 5% inflation, and the average household here has spent $60,000 more since 2020 just to maintain the same lifestyle. In this episode, I break down how inflation compounds against a fixed retirement income, why drawing from your portfolio during a down market can hurt you for years, and the practical ways a reverse mortgage can help protect your cash flow. I cover paying off existing mortgages and liens to eliminate monthly payments, the growing line of credit that can act as your emergency fund, converting equity into monthly income, and the five things you're still responsible for with a reverse mortgage. If you're worried about outliving your money, this episode is for you — because a reverse mortgage isn't just for desperate people. It's a planning tool that can help extend the life of your savings.

Today I'm joined by my friend and fellow Denver Metro Association of Realtors member Alex Kishinevsky, a Denver Metro realtor with 15 years in the business and 350-plus transactions under his belt. We sit down to break down what's actually happening in the Denver housing market right now. We dig into the real numbers — a flat single-family market around $614,000, condos that have softened 15 to 20 percent, days on market, and weeks of inventory — and what those trends actually mean for you. Alex shares his three keys to buying and his three keys to selling in this market, plus how condos can be a smart, lower-maintenance option for homeowners who want to downsize and age in place. Along the way, I show how a reverse mortgage can make buying that next home possible with no monthly mortgage payment. Whether you're thinking of buying, selling, or downsizing, this episode is packed with practical, straight-shooting advice for Colorado homeowners.

Before you dive into researching a reverse mortgage, there are three fundamental questions every homeowner should ask themselves. In this episode, I break them down one by one to help you approach your home equity with complete clarity and zero pressure. First: What do you want the reverse mortgage to accomplish for your cash flow? Whether it's eliminating a monthly mortgage payment, paying off a HELOC, or using HECM for Purchase to right-size, knowing your 'why' is everything.  Second: Is it a safe, regulated product? I revisit the strict guardrails — from mandatory HUD counseling to non-recourse protections — that make this one of the most secure loans available.  And third: Are you comfortable with negative amortization? We talk honestly about how loan balances grow over time, what it means for your heirs, and why this program is meant to relieve financial stress, never create it. If you're considering your options in retirement, this episode is the best place to start.

Most homeowners don't start a reverse mortgage conversation worried about interest rates or payout options. They start worried about safety. Can I lose my home? Will my children inherit the debt? Am I signing something I don't fully understand? In this episode, I'm breaking down six consumer protections that are built directly into the FHA-insured HECM program — safeguards that make this one of the most regulated loans available. I cover mandatory HUD-approved counseling, the non-recourse feature that protects your heirs, the financial assessment that ensures the loan is sustainable for you, initial disbursement limits that prevent overspending, protections for non-borrowing spouses, and a line of credit that can never be frozen, even if home values drop. If you've ever wondered whether a reverse mortgage is safe, this episode will give you the answers you're looking for.

I've spent 23 years helping Colorado homeowners understand reverse mortgages, and in this episode I'm sharing the three most powerful ways I've seen this program strengthen a retirement plan. First, I talk about the standby line of credit — a strategy backed by Dr. Wade Pfau's research that can protect your portfolio from bad market timing in early retirement. Second, I explain how freeing up monthly cash flow can transform your day-to-day finances without forcing you to sell investments at the wrong time. And third, I walk through the HECM for Purchase strategy that lets you buy your next home while keeping more of your money working for you. If you've ever wondered whether a reverse mortgage could actually be a smart financial tool rather than a last resort, this episode is for you.