Understanding Reverse Mortgages

Talking Realty

Understanding Reverse Mortgages | Ep 37

February 27, 2025

https://youtu.be/-QAkirx_2Qk

In this episode of Talking Realty, host Glen Whitten delves into the complex topic of reverse mortgages, providing home sellers with valuable insights and practical advice.

Glen explains what a reverse mortgage is, its benefits and drawbacks, and how it can impact home sales, probate, and inheritance. He also offers guidance on making the decision between selling a home and opting for a reverse mortgage, ensuring listeners know what to look for to avoid scams.

With personal anecdotes and professional expertise, Glen breaks down different payout options, repayment terms, and alternatives to reverse mortgages. Additionally, he discusses the importance of dealing with HUD-approved lenders and provides resources for further counseling and advice.

The episode concludes with tips on shopping around for the best rates, understanding fees, and recognizing red flags in the reverse mortgage process.

Key Moments:

00:00 Introduction and Disclaimer

00:13 Understanding Reverse Mortgages

01:36 Podcast Introduction and Host Background

02:26 Personal Anecdote: Reverse Mortgage Discussion

04:56 Defining Reverse Mortgages

10:38 Pros and Cons of Reverse Mortgages

24:14 Alternatives to Reverse Mortgages

26:05 Maximizing Property Income

26:58 Exploring Cash Out Refinance Options

27:28 Bridge Loans for Seniors