A reverse mortgage isn’t a last resort anymore. Used correctly, it eliminates a mortgage payment, creates a growing line of credit, or buys the next home outright — while you keep the title. I’ve specialized in this work for years, and I’ll give you the honest version, including whether it’s wrong for you.
Most of what you’ve read online describes only the FHA program. California home values often call for the second column.
| FHA-insured HECM | Jumbo / proprietary | |
|---|---|---|
| Minimum age | 62 | 55 for many programs |
| Built for | Homes valued near or below the federal lending limit | Higher-value California homes — up to $4 million |
| Insurance | FHA mortgage insurance premium applies | No FHA mortgage insurance premium |
| Line of credit | Unused credit line grows over time | Varies by program |
| Counseling | Independent HUD-approved counseling before you can proceed — a consumer protection, and a good one | |
Which column you belong in depends on your age, your home’s value, and what the money needs to do. That’s a fifteen-minute conversation with real numbers — not a form and a follow-up campaign.
Pay off the existing loan and stop writing that check every month. For many households this alone changes retirement math more than any investment decision could.
Establish the line early and leave it alone. The unused HECM credit line grows over time — a reserve for care costs, market downturns, or simply peace of mind.
HECM for Purchase: right-size into a single-story home or move closer to family, paying roughly half in cash and financing the rest with no required monthly payment.
In every case the borrower remains responsible for property taxes, homeowner’s insurance, and home maintenance.
California adds real consumer protections to this loan. Here’s the honest sequence, including the waiting period most websites skip.
We talk through your situation and run actual numbers for your home. If a reverse mortgage is the wrong tool, this is where I tell you — and why.
You meet with a HUD-approved counselor who doesn’t work for me or any lender. They confirm you understand the loan. Required, and rightly so.
After counseling, California law gives you seven days before the loan can move forward. No pressure is possible — the calendar forbids it.
Appraisal, documentation, and lender review. I handle the process and keep you informed at each stage — you deal with me, not a processing queue.
Documents are signed, the rescission period runs, and funds are arranged the way you chose — payoff, lump sum, monthly draw, credit line, or a mix.
Call me directly and we’ll find out together whether this tool fits your retirement. If it doesn’t, you’ll leave the call knowing why.
(818) 674-7284Good. Bring them in — I work alongside financial advisors, CPAs, and estate attorneys every week, and I keep them in the loop at every step.
How I work with professionals