10/22/2026
What is your 'JOB' when you have a reverse mortgage? Yes there are some things that the homeowner needs to do!
This is **Part 7** of our 10-part educational series on Reverse Mortgages.
As a recap, Marie took out a reverse mortgage on her own home, and in part 1, she talked about her reasons.
In part 2, we covered Reverse 101, the basics of the FHA Home Equity Conversion Mortgage (HECM) product.
In part 3, Marie talked about 5 myths about the reverse mortgage.
In part 4, we talked about WHO the reverse mortgage is RIGHT for, and who it ISN'T the best idea.
In part 5, the question was raised: can you use the reverse mortgage to buy a boat? Are there any restrictions on what the money can be used for? How about a down payment on a 2nd home?
In part 6, we talked about the fees for a reverse mortgage, and what are they for?
The next video will talk about what happens to the reverse when the homeowner passes away or needs to/ decides to move. What are the options?
Thanks for watching. We do appreciate your watching these. Please LIKE/ SHARE so other people can see them.
Thanks!
-MT Mortgage Team of Luminate Bank
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