If you’re 68–70, living in a suburban Colorado home you love, and wondering how to stretch Social Security and a small pension without giving up independence — this episode is for you. I walk you through the plain‑spoken facts about reverse mortgages (HECMs), what’s required to keep your home, and the real ways seniors are using this tool to pay taxes, cover healthcare surprises, and enjoy life with their grandchildren. No sales pitch — just years of experience, real examples, and the practical options that fit your situation.

What you’ll learn

• The five things you must do to keep your home with a reverse mortgage: live there as your primary residence, keep insurance, pay property taxes, maintain the property, and keep your name on title — and why each matters.
• The four ways to access your equity (lump sum, line of credit, monthly payments, or a combination) and which option fits common retiree needs like covering recurring medical bills or funding home repairs.
• How your age, interest rate, and the home’s value determine how much you can borrow — why being 68 vs. 70 changes your options, and how rising home values can improve your future borrowing power.
• How the reverse mortgage loan balance grows over time, what happens when the last homeowner leaves the home (sale, refinance, or heirs keeping the house), and why heirs are not personally responsible for deficits thanks to mortgage insurance (non‑recourse protection).
• Practical examples: how a homeowner eliminated a $1,000 monthly mortgage payment, set up $2,000 monthly income, and still kept a growing line of credit for future emergencies.
• The impact on government benefits: why Social Security and Medicare won’t be affected, when Medicaid or SSI could be impacted, and how to plan withdrawals to avoid problems.
• When it makes sense to wait and when acting now is smarter — including how FHA lending limits and small changes in interest rates can affect your borrowing power.

This episode gives you a clear, honest walkthrough of how a reverse mortgage can be a practical lifeline — not a trap — for Colorado retirees who want to stay in their homes, pay for health and maintenance costs, and leave as much legacy as possible. You’ll hear real scenarios, straightforward rules to protect your home, and the options that let you choose the income style that fits your life. Tune in to learn whether a reverse mortgage could be the flexible, low‑stress solution you’ve been looking for — and get the facts you need to decide with confidence.

Hello — Bruce Simmons here. If you wake up worrying about rising bills, surprise medical costs, or whether your savings will last, this episode is for you. I speak plainly about three pressures squeezing seniors today: rising Medicare costs, ever-higher housing expenses, and the sudden drop in income after a spouse dies. I’ll share real Colorado stories and explain how a reverse mortgage can be a practical tool to create breathing room — not a miracle, but a responsible option you can consider.

• The exact 2026 Medicare changes and how they affect your monthly budget.
• Why a paid-off house still creates big costs — taxes, insurance, utilities, HOA fees, and repairs.
• How losing a spouse can cut household income and create urgent cash needs.
• Real client examples of using reverse mortgages to pay off debt, cover repairs, and set up emergency funds.
• The four payout options for a reverse mortgage and which fits common needs: lump sum, monthly payments, line of credit, or a combination.
• The five responsibilities that keep a reverse mortgage in good standing.
• How a reverse mortgage line of credit grows and why it can be a safety net.
• Key factors that determine how much you can borrow: age, home equity, and interest rates.
• Practical timing advice — why setting up a reverse mortgage while both spouses are alive often makes sense.
• Questions to ask a loan professional so you go in knowing the pros and cons.

Listen to this episode to get clear numbers, straightforward advice, and practical next steps you can act on. You’ll learn what’s driving your rising costs, how a reverse mortgage works, and whether it could help protect your savings and independence. If you want a free Colorado consumer guide or a personal quote, I’ll tell you how to reach me during the show. Tune in and get the facts you need to make a calm, informed choice.

If you own your home and worry about stretching Social Security, pensions, and savings, this episode is for you. I walk you through the seven clear steps to get a reverse mortgage. I explain what really happens at each stage, what to expect, and what to watch out for. I use real examples from Colorado homeowners I’ve helped so you can see how this works in everyday life. By the end, you will know whether a reverse mortgage could give you more monthly cash, eliminate a mortgage payment, or create a safety net for unexpected costs.

• Step 1 — Awareness: What a reverse mortgage is, who qualifies (age 62+), and how it differs from a regular mortgage or selling your home.
• Step 2 — Gather facts: Where to find accurate, non-sales information (HUD, NARML, FTC) and which online traps to avoid.
• Step 3 — Counseling: Why independent HUD-approved counseling matters, what the counselor will cover, and typical fees.
• Step 4 — Application: Documents you’ll need (ID, Social Security verification, mortgage statements, insurance, income proof) and how the e-doc process works.
• Step 5 — Processing: How we order the FHA case number, the appraisal, title search, and what liens or judgments mean for your loan.
• Step 6 — Closing: What happens at signing, the three-business-day rescission period, and timing for funding and payoff of existing loans.
• Step 7 — After closing: How the loan is set up, how lines of credit take about a month to activate, and tips to manage taxes, insurance, and loan growth.
• Real examples: How borrowers used a reverse mortgage to stop a $1,500 monthly payment, fund home repairs, or keep money for travel and grandkids.
• Trade-offs and risks: How interest grows on the loan, why you still must pay taxes and insurance, and how to protect your heirs and your home.
• Practical tips: Do not give your Social Security number to get a quote, avoid data-selling lead pages, and how to choose a counselor and lender you can trust locally.

This episode breaks the process into simple, steady steps so you can make a clear decision without pressure. If you want more monthly cash, to stop a mortgage payment, or a fallback for future health or home costs, listening will give you the facts and next steps. I share real Colorado examples, practical warnings, and exact documents you’ll need.