Reverse Mortgage FAQs

Quick Facts

HECM (Home Equity Conversion Mortgage) loans - also known as Reverse Mortgages - can be an important financial option for seniors, their family members, and financial professionals to consider as part of an overall retirement planning strategy or to help meet cash flow needs.


Over the past 50+ years, the Reverse Mortgage has positively grown in popularity, and has developed into an intelligent option to increase the financial independence of homeowners 62 years of age or older.

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Reverse Mortgage FAQs

AARP defines a Reverse Mortgage as: A Reverse Mortgage is a loan against your home that you do not have to pay back for as long as you live there.


The Reverse Mortgage began as early as 1961.  In 1989 (Federal Housing Administration) insured the first HECM (Home Equity Conversion Mortgage) otherwise known as a Reverse Mortgage to Marjorie Mason of Fairway, Kansas. - The Reverse Mortgage was written to help Marjorie, who was a widow, stay in her home despite the loss of her husband's income.  To this day, Reverse Mortgages continue to help homeowners 62 years of age or older with many benefits.

Frequently Asked Questions

What is a Reverse Mortgage or Home Equity Conversion mortgage (HECM)?
How can I receive the money from the home equity conversion mortgage (HECM)?

The money can be received in a lump sum, as monthly payments – for a term or for life, through a line of credit or a combination of all options.

Is It Safe?

Yes! The HECM (reverse mortgage) is insured by FHA/HUD. It is strictly regulated, transparent and monitored. If something happens to your lender, FHA takes over to become your lender.

Am I eligible for a Reverse Mortgage?
How much money can I get?

This is determined by factors including: age of the youngest homeowner, value of the home or FHA (Federal Housing Administration) lending limit and current interest rate.

Will I Have To Repay The Loan?

Yes. The loan is designed to be paid through a refinance or sale of the house. This is when the last borrower occupant moves out, passes away or sells the house.

What are the differences between a reverse mortgage and a home equity loan?
Can I refinance my home using a reverse mortgage?
Do I have to pay taxes on my reverse mortgage funds?
Can I refinance my reverse mortgage with another reverse mortgage?
What if my spouse or co-borrower passes away or moves out?
It’s just a mortgage, right? I still hold title?

Exactly. And you’re still responsible for property taxes, hazard insurance and maintenance.

We're here to answer all of your Reverse Mortgage questions

A friendly HECM expert is available to answer your questions at (503) 232-6659 or by email at

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