Misconception: The lender owns my house.
Truth: You own your home. The reverse mortgage loan is secured by a mortgage that the lender records. This loan is due only when you no longer live in the home.

Misconception: I can be forced to leave my home.
Truth: You can stay in your home until you move out permanently.

Misconception: If I do a reverse mortgage, I will not be able to sell my house.
Truth: Since you maintain ownership, you can sell your house at any time. When you decide to sell your home, you must pay off the balance of the loan, and keep the balance.

Misconception: A reverse mortgage will affect my Social Security and Medicare.
Truth: Loan proceeds do not affect Social Security or Medicare. However, I recommend you check with the “Agency on Aging” or your financial advisor if you get benefits from any needs based program such as Medicaid.

Misconception: My house has to be paid in full to get a reverse mortgage.
Truth: No, in fact most clients use the proceeds to pay off their current mortgage and free themselves from their monthly payments.

Misconception: My credit is bad and I would not qualify for a reverse mortgage.
Truth: There is very little credit qualification for a reverse mortgage. On the government Insured HECM, the only requirement is that you can’t be delinquent on a federal debt. If you have declared bankruptcy or if you are currently in foreclosure you may still be able to get a reverse mortgage.


HighTechLending, Inc., Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act. NMLS #7147. Licensed in AZ# 0912577, CA# 4130937, CO #7147, FL #7147, HI #7147, IL #MD-6761112, MD #21762, NC #L-165611, NJ #7147, OR #ML4386, PA #49892, TX #7147,UT #8874117, VA #MC-5962, WA #7147. 2030 Main Street #350, Irvine, CA 92614. For Consumer Complaints please click on the "Consumer Complaints" link for more info.

*Homeowner must continue to pay property taxes, homeowner's insurance, and any applicable HOA dues.