Reverse Mortgages, Explained
A plain-English session on the FHA-insured reverse mortgage (HECM): what it is, what it costs, what it protects, what it asks of you, and who it's wrong for. Bring your questions and bring your kids.
- Thursday, October 8, 202611:00 AM to 12:00 PM, Arizona time
- Payson Senior Center514 W Main St, Payson, AZ 85541
- Free to attendSeating for about 40; RSVP to hold a spot.
The first session in the series: an hour at the Payson Senior Center covering what a reverse mortgage is, where the old reputation came from, and a real couple's numbers, followed by questions from the room.
What we'll cover
What a HECM is, and isn't
A federally insured loan against your home that pays you, with no required monthly principal and interest payment. You keep the title.
Where the bad reputation came from
What went wrong before 2015 and what HUD changed: financial assessment, draw limits, spouse protections, required counseling.
Why it works, with real numbers
An anonymized case of a real couple, then your questions, as many as you have.
What won't happen
Nobody is signed up for anything. No forms at the door, no raffle, no follow-up unless you ask. Nothing else is sold, and nobody is told what to do; by law you'd meet with an independent HUD-approved counselor before applying for a HECM, and I'll show you how to find one.
Can't make this one?
A 15 to 30 minute Discovery call covers the same ground for your situation, with your numbers back in writing within one business day. Free, no application, no credit pull.
The consultation and the options review are free. If you choose to proceed, third-party costs such as HUD counseling and an appraisal may be due before closing. Licensed in 20 states; see the full list below.
Prefer the phone? 623-698-5294, Arizona time.