Demystifying Reverse Mortgage

Category: Newsworthy Notes

Everyone’s noticed that the world has changed. So have reverse mortgages. So, as you continue reading, consider setting aside any rumors you might have heard about reverse mortgages until you arm yourself with the facts. 

Until recently, it was conventional wisdom that a reverse mortgage was a last-resort option for the oldest homeowners who desperately needed cash. But a growing number of financial advisors now say these loans are a great option for people earlier in their retirement who are not needy at all. 

Homeowners 62 and up could use cash from a reverse mortgage to protect investment portfolios during market downturns, delay claiming Social Security benefits, or pay off an existing mortgage. 

One of the best ways to use a reverse mortgage is for providing and supplementing income during retirement. A 62-year-old can maintain ownership of their home while turning the equity into an income stream.

How A Reverse Mortgage Is Different – You can defer payments on the loan until you sell the home, or when the last surviving borrower or eligible non-borrowing spouse passes or leaves for more than 12 months (for example, to enter an assisted living facility). The only requirements are to do what you’re already doing: maintain the property, pay property taxes, HOAs (if any), and hazard insurance. 

When you get a reverse mortgage, depending on the product you choose, whatever money you don’t use immediately can go into a line of credit, and unlike a regular line of credit, it has a guaranteed growth in value at the same interest rate as your loan. Most people are not aware of this. Only the money you take out (and any mortgage insurance premium) is charged interest, and this becomes the loan balance. 

If you learned something new today, pat yourself on the back for allowing yourself the willingness to maintain an open mind. “Conventional wisdom” about reverse mortgages may not be what is best for your financial needs.

We urge you to speak to Jill Hamilton of USA Reverse Mortgage. You have only to gain. We have known Jill for years and she became a vetted Wellness Village member in May of 2022. Count on her to answer your questions by checking out her page of information at

Go direct, go to her page, or give her a call at 760-567-8597. Get the facts.

Share This Article:


Contact Us

Parkinson's Resource Organization
74785 Highway 111
Suite 208
Indian Wells, CA 92210

Local Phone
(760) 773-5628

Toll-Free Phone
(877) 775-4111

General Information


Like! Subscribe! Share!

Did you know that you can communicate with us through Facebook, Twitter, LinkedIn, YouTube, and now Instagram?



Updated: August 16, 2017