Arizona Reverse Mortgages

10/15/2026

🏡𝗖𝗮𝗻 𝗬𝗼𝘂 𝗟𝗼𝘀𝗲 𝗬𝗼𝘂𝗿 𝗛𝗼𝗺𝗲 𝘄𝗶𝘁𝗵 𝗮 𝗥𝗲𝘃𝗲𝗿𝘀𝗲 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲?
One of the biggest myths about reverse mortgages is that the bank takes ownership of your home. It's a common concern, and an understandable one. 𝗕𝘂𝘁 𝗶𝘁'𝘀 𝘀𝗶𝗺𝗽𝗹𝘆 𝗻𝗼𝘁 𝘁𝗿𝘂𝗲.

✅𝗬𝗼𝘂 𝗦𝘁𝗶𝗹𝗹 𝗢𝘄𝗻 𝗬𝗼𝘂𝗿 𝗛𝗼𝗺𝗲
I tell partners and clients all the time, the bank and/or FHA do NOT want your home, nor are they in the real estate business. When you get a reverse mortgage, you remain the owner of your home. Just like with a traditional mortgage, your name, your trust or your spouse stay on the title. The lender does not own your house.

A reverse mortgage is a loan that “leverages” your home's equity. Instead of making ‘mandatory’ monthly mortgage payments, you have the option to receive funds OR use the equity as a financial preservation tool, all while continuing to live in your home, without any risk of being cancelled or ended prematurely. The strategy always depends on the goals of the individual borrowers.

✅𝗦𝗼 𝗪𝗵𝘆 𝗗𝗼 𝗣𝗲𝗼𝗽𝗹𝗲 𝗧𝗵𝗶𝗻𝗸 𝗧𝗵𝗲𝘆 𝗖𝗮𝗻 𝗟𝗼𝘀𝗲 𝗧𝗵𝗲𝗶𝗿 𝗛𝗼𝗺𝗲?
This misconception usually comes from misunderstandings about the homeowner's responsibilities and old programs (from the 1970's) that no longer exist.

🏡𝗧𝗼 𝗸𝗲𝗲𝗽 𝗮 𝗿𝗲𝘃𝗲𝗿𝘀𝗲 𝗺𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗶𝗻 𝗴𝗼𝗼𝗱 𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴, 𝘆𝗼𝘂 𝗺𝘂𝘀𝘁:
- Live in the home as your primary residence.
- Keep the property in reasonable condition.
- Stay current on property taxes, homeowners insurance, and any required HOA dues.

If these basic obligations aren't met for an extended period, the loan may be called due—similar to what can happen with a traditional mortgage if you were to miss a monthly payment for many months. BUT if the above obligations ARE being met, then you and/or your spouse can securely age in the home for as long as you both live, forever!

✅𝗪𝗵𝗮𝘁 𝗛𝗮𝗽𝗽𝗲𝗻𝘀 𝗪𝗵𝗲𝗻 𝗬𝗼𝘂 𝗠𝗼𝘃𝗲 𝗼𝗿 𝗣𝗮𝘀𝘀 𝗔𝘄𝗮𝘆?
Again, you can sell the home at any time, since it’s your home. But IF the last borrower permanently moves out of the home or passes away, the reverse mortgage typically becomes due.

🏡𝗜𝗻 𝘁𝗵𝗲 𝗹𝗮𝘁𝘁𝗲𝗿 𝘀𝗰𝗲𝗻𝗮𝗿𝗶𝗼, 𝘆𝗼𝘂𝗿 𝗵𝗲𝗶𝗿𝘀 𝗴𝗲𝗻𝗲𝗿𝗮𝗹𝗹𝘆 𝗵𝗮𝘃𝗲 𝘀𝗲𝘃𝗲𝗿𝗮𝗹 𝗼𝗽𝘁𝗶𝗼𝗻𝘀:
- Refinance the balance if they want to keep the home.
- Sell the home and keep any remaining equity after the loan is paid off.
- If the home is worth less than the loan balance, neither you not your heirs owe more than the home's value, provided the loan requirements have been met.

✅𝗧𝗵𝗲 𝗕𝗼𝘁𝘁𝗼𝗺 𝗟𝗶𝗻𝗲
🏡✅A reverse mortgage does not give up ownership of your home.

It can be a valuable financial tool for many homeowners age 62 and older, and now sometimes for people over 55. But like any loan, it's important to understand the terms and your responsibilities.

If you've been wondering, "𝗖𝗮𝗻 𝘁𝗵𝗲 𝗯𝗮𝗻𝗸 𝘁𝗮𝗸𝗲 𝗺𝘆 𝗵𝗼𝘂𝘀𝗲 𝘄𝗶𝘁𝗵 𝗮 𝗿𝗲𝘃𝗲𝗿𝘀𝗲 𝗺𝗼𝗿𝘁𝗴𝗮𝗴𝗲?" or "𝗪𝗵𝗼 𝗼𝘄𝗻𝘀 𝘁𝗵𝗲 𝗵𝗼𝘂𝘀𝗲 𝗮𝗳𝘁𝗲𝗿 𝗮 𝗿𝗲𝘃𝗲𝗿𝘀𝗲 𝗺𝗼𝗿𝘁𝗴𝗮𝗴𝗲?", the answer is reassuring:

🏡𝗬𝗼𝘂 𝗼𝘄𝗻 𝘆𝗼𝘂𝗿 𝗵𝗼𝗺𝗲. As long as you meet the basic loan requirements, you can continue living there while accessing or leveraging the equity you've worked hard to build.

🏡✅I am always available to discuss and objectively evaluate any situation to see if a Proprietary Reverse Mortgage, a HECM or even a Reverse 2nd mortgage is a good option.

09/30/2026

I always enjoy being a part of a great network! Grateful!🔥👍🙏

✨ EBA MEMBER SPOTLIGHT | Bill Cave ✨

What happens when someone who once told people NOT to get a reverse mortgage ends up building a career helping people understand them?

Meet Bill Cave, with Mutual of Omaha – Reverse Mortgage. 👋

Bill's journey into this industry actually began through his work with seniors. With a background in health administration and gerontology, 20 years running an eldercare placement consulting business, and experience as a SHIP counselor, Bill spent years helping seniors and their families navigate important decisions.

So when people began asking him about reverse mortgages, his first response was actually, “Don't do one.”

Then he started learning the facts behind the myths.

That changed his perspective — and eventually his career.

Today, Bill says what he loves most isn't the final sale. It's educating people, building local relationships, and earning trust. He especially enjoys connecting with financial planners, real estate professionals, long-term care professionals, eldercare attorneys, and CPA/tax professionals who are also helping people plan for their long-term well-being.

But there's more to Bill than business.

Originally from Long Island, New York, Bill came to Arizona in his 20s after meeting his future wife, whose grandmother lived in Sun City. What started as a visit turned into 26 years in Arizona — even though Bill admits he really didn't like Arizona at first! 😂

And here's something you probably wouldn't guess…

🎬 Bill was a childhood actor!

These days, his biggest adventures are a little closer to home: cheering on his 16-year-old son and 12-year-old daughter at their sporting events, traveling with his family, discovering great food as self-proclaimed “destination foodies,” and staying active.

When it comes to business, Bill is proudly old school — call, text, email, or better yet, meet in person.

And that's exactly the kind of connection we love creating through the Elite Business Alliance. 🤝

Bill, we're excited to have you in EBA!

If you haven't met him yet, say hello below or reach out and start a conversation.

📞 (623) 341-6334
📧 [email protected]

Welcome to EBA, Bill! 💚

09/22/2026

Is a Reverse Mortgage the Right Fit?

A reverse mortgage is one of those financial tools that’s either a lifeline… or a landmine. The difference depends entirely on context and most importantly, individual strategy!

First, quick clarity. In the U.S., when people say “reverse mortgage,” they usually mean a Home Equity Conversion Mortgage (HECM) — the federally insured version backed by the Federal Housing Administration.

Read the rest in the comment 👇

09/11/2026

09/03/2026

Whenever I educate a new client, I typically begin by saying “We are all conditioned to know what a regular (forward) mortgage is”. Very simple and straightforward…1) rate, 2) term, and 3) payment! Most of us have had or still have a regular mortgage. And we know we have to pay it each month in order to keep bad things from happening next month if we didn’t make that payment. This is a great starting point to understand reverse basics!

A reverse really has just some key basic concepts that help us learn the differences from the concept of a forward mortgage. Specifically: AGE, Optional Payments, Occupancy , Property charges, non-recourse protection and who regulates it?

Age

The first real difference here is age. ONE borrower in a reverse has to be over the age of 62 for the FHA regulated – HECM. However, growing in popularity, are proprietary reverse mortgages (offered by private lenders) and these start with borrowers at the age of 55.

For forward mortgages, you just have to be age 18 (a legal adult) in most states.

Optional Payments

A reverse mortgage make payments ‘Optional’, as in, you can ‘OPT’ to never make a payment. This is a popular concept that many people have some misconceptions about. I will cover this another time but many people will benefit from making optional payments in a reverse. For example, I personally plan to make payments when I do my own reverse. WHY??...because my personal retirement strategy involves maximizing my growing line of credit. There may also be a time when I don’t make payments for tax exemptions or stacking strategies. Either way it’s fine but I will understand the reasons and the final loan will be repaid when the home is sold!

Forward mortgages require mandatory monthly principal and interest payments. The end. If you sell your home the loan balance is also repaid.

Occupancy

A reverse mortgage can only be done on a primary residence. It cannot be done on an investment property or 2nd home. Once a year, borrowers will sign a ‘certificate of occupancy’.

Forward loans can be done on most any property or homes owned, so long as the monthly payment is made.

Property Charges

Reverse mortgage borrowers typically have to pay Property taxes and homeowners insurance directly to the county and insurance company.

In a forward mortgage, property taxes and homeowners insurance are often escrowed through the lender and monthly mortgage payment.

Non-Recourse Protection

This one is BIG! All reverse mortgages (proprietary and HECM’s) are “non-recourse”. This means neither the borrower, nor the estate can owe more than the home is worth when it sells.

This protection does NOT exist on forward mortgages. Forward mortgages are recourse, meaning borrowers are personally on the hook for the full loan balance, regardless of property value.

Regulation

HECM’s are the only government designed and regulated mortgage loan in existence. They also lay the foundation for proprietary reverses which are offered by private lenders. For example, non-recourse, applies to ALL reverse mortgages, regardless. HUD/FHA (Federal Housing Administration) actively regulates the HECM program and, in some cases, actually takes on the servicing of some reverse mortgages. From a disclosure standpoint, reverses use a HUD-1 and settlement statement at closing and are exempt from the TRID lending laws.

Forward mortgages do follow the TRID laws and use documents like a Loan Estimate and Closing Disclosure. I often tell people to look at the back pages of forward loan disclosure to see their “total lifetime payback” on a forward mortgage. The numbers are eye-opening and often a starting point for a discussion about reverse.

Overall, the differences between a forward and reverse loan is more than just ‘skipping monthly payments’. Although it is still a technical mortgage, it’s a completely different loan with a different set of rules that was tailored to retirement and protecting ‘vulnerable’ adult populations and intentionally allow them to safely “AGE IN PLACE”.

07/04/2026

Happy 250th America!

07/04/2026

05/19/2026

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05/16/2026

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