Myths and Facts

A lot of people have questions about reverse mortgages.  I have been helping people make sound financial choices using reverse mortgages for many years. Let me help you get the facts and find ways to use a reverse mortgage to improve your life.

Reverse Mortgage Myths

  • You immediately sign over ownership to your home
  • It’s only for broke people
  • It’s free money

Reverse Mortgage Facts

  • You retain title to your home as long as you meet the loan guidelines & requirements such as: maintaining the property, paying all property charges such as property taxes, homeowners insurance, flood insurance, and homeowners association dues (if applicable), and avoiding extended absences from the home longer than six months. 
  • Many retirees use a reverse mortgage
  • It’s a specialized loan. However, program rates, fees, terms, and conditions are not available in all states and are subject to change
  • Failure to comply with the loan terms could result in a foreclosure
  • Reverse mortgages that are FHA-insured (Home Equity Conversion Mortgages) are insured by the Federal Housing Administration providing protection for both borrowers and lenders


Reverse Mortgage Specialist, Mary Jo Lafaye is based in San Rafael, California and serves Marin County and the Bay Area.