What is a Reverse Mortgage

What is a Reverse Mortgage

Learn about reverse mortgages and see how your home equity can be leveraged as a tool in your retirement years.

A reverse mortgage is a powerful tool that enables older homeowners age 62 (If married, only one person needs to be 62), to tap into a portion of their home equity and convert it to cash so they can live better in retirement. Also known as a home equity conversion mortgage (HECM), this federally insured program is designed to help retirees access the home equity they’ve accumulated through tax-free loan proceeds* without having to sell or vacate their property.

These loans allow homeowners to access the equity they’ve accumulated in their homes and use it to supplement their retirement income. There’s no monthly payment required, so borrowers can significantly increase their cash flow for a higher quality of living. There are very few restrictions on how you can use your loan proceeds. Use the money to pay off a car loan or credit card, renovate your home, take care of unexpected expenses—it’s all up to you. If you have an existing mortgage, you can use a reverse mortgage to pay it off to eliminate monthly payments and use the remaining proceeds however you see fit.

The government launched the reverse mortgage program—known as the home equity conversion mortgage or HECM—in 1989 to offer

Americans a means to finance their longevity. Since then, there have been over 1,000,000 originated in the USA.

*Reverse mortgage loan proceeds are typically not considered taxable income. However, you should consult a financial advisor and appropriate government agencies for the possible effect they may have on taxes and/or benefits.

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Lisa Marshall
NMLS #2024352

C2 Financial Corporation
NMLS #135622 | BRE #01821025

Contact Us

Lisa Marshall-Retirement Mortgage Specialist
Howell, MI 48843

(810) 623-0665


This material is not provided by, nor was it approved by the Department of Housing & Urban Development (HUD) or by the Federal Housing Administration (FHA). It is not intended to be a substitute for legal, tax or financial advice. Consult with a qualified attorney, accountant or financial advisor for additional legal or tax advice.
*There are some circumstances that will cause the loan to mature and the balance to become due and payable. The borrower(s) must continue to pay for property taxes and insurance and maintain the property to meet HUD standards or risk default. Credit is subject to age, minimum income guidelines, credit history, and property qualifications. Program rates, fees, terms and conditions are not available in all states and subject to change.

C2 Financial Corporation is licensed by the Michigan Department of Insurance and Financial Services. Michigan 1st Mortgage Broker License/2nd Mortgage Broker Registrant, Issued 7/6/2021 FL0023565/ SR0023566 NMLS # 135622, NMLS Branch # 135622 Corporate is the Main Office 858-312-4900 C2 Financial Corporation is licensed by the California Bureau of Real Estate, Broker # 01821025; NMLS# 135622. Loan approval is not guaranteed and is subject to lender review of information. Loan is only approved when lender has issued approval in writing. Specified rates may not be available for all borrowers. Rate subject to change with market conditions. C2 Financial Corporation is an Equal Opportunity Mortgage Broker/Lender.

As a broker, C2 Financial Corporation is NOT approved by the FHA or HUD, but C2 Financial Corporation is allowed to originate FHA loans based on their relationships with FHA approved lenders.

C2 Financial Corporation is approved to originate VA loans, and has the ability to broker such loans to VA approved lenders. C2 Financial Corporation is not acting on behalf of r at the direction of HUD/FHA or the VA.