Category: Quick Facts

Watching Out for Identity Theft: Simple Steps to Protect Yourself

Posted on by janjordan

Identity theft isn’t new, but the ways criminals obtain personal information continue to change.

Today, identity theft can involve everything from stolen credit card information and data breaches to convincing emails, text messages and phone calls designed to look like they came from a bank, government agency or other trusted organization.

Knowing what to watch for — and taking a few preventative steps — can make a significant difference.

How Does Identity Theft Happen?

Identity theft occurs when someone uses your personal or financial information without your permission. That information might be used to make purchases, access an existing account, open new credit or commit another type of fraud.

And it doesn’t happen only online.

Personal information can be stolen from mail, discarded financial documents or a lost wallet. Increasingly, criminals also use phishing emails, text messages and phone calls to convince people to provide information themselves.

A message might appear to come from your bank and claim there’s an urgent problem with your account. A caller may impersonate Medicare, Social Security, a financial institution or even someone you know.

One of the best rules to remember is simple: don’t allow an unexpected call, email or text to rush you into providing personal or financial information.

If you’re concerned that a message may be legitimate, contact the organization independently using a phone number or website you know is correct.

Simple Ways to Protect Yourself

Protect important documents. Keep your Social Security card, financial records, tax documents and other sensitive information in a secure place. Shred documents containing personal information before throwing them away.

Be cautious with links. Rather than clicking a link in an unexpected email or text, access your account through the company’s official website or app.

Use strong, unique passwords. Avoid using the same password for multiple important accounts, and turn on multifactor authentication whenever possible.

Be careful with unexpected callers. Caller ID can be manipulated. If someone unexpectedly asks for sensitive information, hang up and contact the organization directly using a trusted number.

Review your accounts and credit reports. Unfamiliar transactions, accounts or credit inquiries can be early warning signs of identity theft.

Protect your mail. Retrieve mail promptly and avoid leaving sensitive outgoing mail in an unsecured mailbox.

Consider Freezing Your Credit

A credit freeze is one of the strongest tools available for preventing someone from opening a new credit account in your name.

Credit freezes are free, don’t affect your credit score and can be temporarily lifted when you legitimately need someone to access your credit.

To fully freeze your credit, you’ll need to contact each of the three major credit bureaus: Equifax, Experian and TransUnion.

A Special Concern for Older Homeowners

Older Americans can be particularly attractive targets for financial scams because they may have retirement savings, investments and significant equity in their homes.

That makes caution especially important when considering financial products involving your home, including a reverse mortgage.

A legitimate reverse mortgage should never require you to send money to an unknown individual, purchase an unrelated financial product or provide sensitive information because of an unsolicited phone call, email or text.

Be wary of anyone who contacts you unexpectedly and pressures you to act immediately, promises access to “free money,” claims you must use a particular contractor or financial professional, or asks you to sign documents you don’t fully understand.

For a federally insured reverse mortgage (Home Equity Conversion Mortgage HECM), homeowners are also required to complete counseling with an independent HUD-approved housing counselor before the loan can proceed. That counseling provides another opportunity to ask questions and make sure you understand the loan before making a decision.

If you’re considering a reverse mortgage, take your time, ask questions and work with professionals you trust. You should never feel pressured into making a decision involving your home.

What If I Think My Identity Has Been Stolen?

If you notice a transaction, account or credit inquiry you don’t recognize, act quickly. Contact the financial institution involved, change passwords on affected accounts and consider placing a credit freeze or fraud alert on your credit files.

The Federal Trade Commission’s IdentityTheft.gov website allows consumers to report identity theft and receive a personalized recovery plan.

Identity thieves often depend on getting people to act before they have time to think. Protecting your information, questioning unexpected communications and regularly reviewing your financial accounts can go a long way toward keeping your identity — and your finances — secure.

Jan and Kelsey are Reverse Mortgage Specialists serving the Erie, Dacono, Fort Collins, Loveland, Greeley, Longmont, Boulder and other Front Range areas of Colorado, as well as the Cheyenne and Laramie communities of Wyoming.  Contact Jan and Kelsey to learn if a reverse mortgage is right for you.

5 Quick Facts About Reverse Mortgages

Posted on by janjordan

Reverse Mortgage Loveland Fort Collins ColoradoReverse mortgages have made a serious comeback in the past several years.  After regulation changes were enacted in 2015, the reverse mortgage loan once considered a desperate lifeline is now being used as a retirement tool for even the wealthy.  The loans are still only available to seniors 62 and older (including married couples) with the amount of funds available increasing depending on age and appraised value of the home, but now those funds are often being accessed in ways not available before – such as a line of credit or to purchase a home.  This really is not your mother’s reverse mortgage, it’s something much more versatile than it was years ago.

Here are some lesser known facts about today’s reverse mortgage:

1.)  I’ve said it before and I’ll say it again – the borrower will always remain the homeowner as long as basic responsibilities such as property taxes are paid, homeowners insurance is kept current, and utilities and HOA fees are paid.  One of reverse mortgage’s scariest myths has always been that a bank will own the home.  This couldn’t be further from the truth.  Not only will the borrower remain the homeowner, they will also retain the title.

2.) There are NO mortgage or loan payments.  That’s correct.  Regardless of how the borrower decides to utilize the reverse mortgage funds, they will not pay a loan or mortgage payment while they remain in the home.

3.) With a Reverse Mortgage for Purchase, borrowers can wrap both the home purchase and the reverse mortgage into the same transaction allowing them to buy their dream home – AND the reverse mortgage will substantially supplement purchasing power allowing a home to be purchased that may have once been out of their price range.  When using a Reverse Mortgage for Purchase, the borrower is required to provide some down payment and the reverse mortgage funds will make up the rest of the purchase price.

4.) Married couples can both be on the loan regardless of how the funds are utilized.  Another all too common myth is that in the case of a married couple, if one spouse passes away the other spouse will be evicted.  When working with a reputable reverse mortgage lender this should never happen.  As long as both spouses are 62 or over, they can both be on the loan allowing either borrower to stay in the home until the last spouses passes away or permanently leaves the home.

5.) Heirs are not “saddled” with the debt of a reverse mortgage.  After the borrower(s) pass away, there are several options as to what the heirs can do with the home.  And in today’s hot housing market, the home may gain equity that can be available to the heirs.  Most all reverse mortgages are FHA insured meaning the loan will never exceed the amount of the home sale – even if more is owed, and it also means it will only ever require the amount of the loan even if the home is worth much more when it comes due.

Jan and Kelsey are Reverse Mortgage Specialists serving the Erie, Dacono, Fort Collins, Loveland, Greeley, Longmont, Boulder and other Front Range areas of Colorado, as well as the Cheyenne and Laramie communities of Wyoming.  Contact Jan and Kelsey to learn if a reverse mortgage is right for you.

What You Need to Know About Reverse Mortgage Appraisals in Colorado

Posted on by janjordan

reverse mortgage loveland fort collins greeley longmont westminster coloradoGetting your home appraised might sound like a hassle, but it’s a straightforward and important step in the reverse mortgage process. The appraised value of your home plays a key role in determining how much equity you can access.

Once you’ve submitted your application, your lender will arrange for a licensed appraiser to contact you and schedule a visit. From there, the process typically includes three simple parts: inspection, research, and reporting.

The Appraisal Process

During the inspection, the appraiser will walk through your home, take photos, and note features that add value, as well as any areas that may need attention. This helps ensure the home meets basic standards and gives you an opportunity to address any concerns.

After the visit, the appraiser completes market research, reviewing recent home sales in your area, public records, and other data to determine your home’s current value.

All of this is then compiled into a final report, which is sent to your lender. You’ll receive a copy, along with updated reverse mortgage figures based on the appraised value.

Moving Forward

The appraisal helps establish a clear, current value of your home, which directly impacts how much you may be eligible to receive. It also ensures the property meets FHA and HUD guidelines.

Reverse mortgages are available to homeowners age 62 and older and allow access to home equity without monthly mortgage payments, as long as basic obligations like taxes and insurance are maintained.

The appraisal is simply one step in the process, but an important one that helps ensure everything is accurate and aligned before moving forward.

Jan and Kelsey are Reverse Mortgage Specialists serving the Erie, Dacono, Fort Collins, Loveland, Greeley, Longmont, Boulder and other Front Range areas of Colorado, as well as the Cheyenne and Laramie communities of Wyoming.  Contact Jan and Kelsey to learn if a reverse mortgage is right for you.

Reverse Mortgages and Taxes: What Homeowners Need to Know

Posted on by janjordan

reverse mortgage loveland colorado fort collins longmont greeley boulderAs tax season approaches, many seniors with a reverse mortgage begin to wonder how this unique loan might affect their tax filing. Reverse mortgages differ from traditional home loans in many ways, and taxes are one area where the differences stand out.

Here’s a clear, straightforward look at how a reverse mortgage interacts with common tax issues:

Are Reverse Mortgage Funds Taxable?

The good news: funds received from a reverse mortgage are not considered taxable income.

Why? Because the money you receive isn’t income earned, it’s a loan drawn from the equity you’ve built in your home. Whether you choose monthly payments, a lump sum, or a line of credit, the IRS views this as a loan advance, not income. That means no federal income tax is owed on the money you access.

Can You Deduct Interest Paid?

With traditional mortgages, interest payments may be deducted from your taxes each year. But reverse mortgages work differently. Because the interest on a reverse mortgage typically accrues over time and isn’t paid until the loan is due (usually when the borrower sells the home, moves out permanently, or passes away), the deduction can only be claimed at that time, not annually.

It’s an important distinction and one to keep in mind when planning long-term.

Property Taxes: Still Your Responsibility

One tax-related item that remains the homeowner’s responsibility is property taxes. Unlike traditional mortgages where an escrow account may handle tax payments, reverse mortgage borrowers must stay current on their own.

Failure to keep up with property taxes (or homeowners insurance) can put the loan at risk of default. However, reverse mortgage lenders will assess your financial situation before approval, and in some cases, a portion of your loan can be set aside to help cover these future costs.

Other Tax Considerations

Because reverse mortgage funds aren’t taxable, they don’t affect eligibility for Social Security or Medicare. However, they may impact need-based programs like Medicaid or Supplemental Security Income (SSI), depending on how the funds are used or held. It’s wise to speak with a financial advisor or benefits specialist if you rely on those services.

Final Thoughts

Reverse mortgages continue to grow in popularity as a financial tool for seniors age 62 and older. They allow homeowners to tap into the equity of their primary residence while eliminating monthly mortgage payments and maintaining ownership of the home. Loan proceeds can be used in a variety of ways, including monthly income, unexpected medical costs, or even purchasing a new home.

Understanding the tax implications is a crucial part of making an informed decision. Always consult with a tax professional and a reputable reverse mortgage specialist to ensure you’re on solid financial ground.

Jan and Kelsey are Reverse Mortgage Specialists serving the Erie, Dacono, Fort Collins, Loveland, Greeley, Longmont, Boulder and other Front Range areas of Colorado, as well as the Cheyenne and Laramie communities of Wyoming.  Contact Jan and Kelsey to learn if a reverse mortgage is right for you.

FHA Increases 2026 HECM Reverse Mortgage Lending Limits

Posted on by janjordan

reverse mortgage loveland fort collins greeley longmont westminster coloradoIn a move that may benefit many older homeowners, especially those in areas with higher property values like Colorado’s Front Range, the Federal Housing Administration (FHA) has announced a new lending limit for Home Equity Conversion Mortgages (HECMs), the most common type of reverse mortgage insured by the government.

2026 HECM Limit Rises to $1,149,825

Starting January 1, 2026, the maximum claim amount for an FHA-insured reverse mortgage will rise to $1,149,825, up from $1,089,300 in 2025. That’s a 5.56% increase, reflecting ongoing home price appreciation across the U.S., including in high-demand areas like Fort Collins, Boulder, Loveland, and Denver.

This change is part of HUD’s annual adjustment process based on the national conforming loan limit set by the Federal Housing Finance Agency (FHFA). It ensures that reverse mortgage borrowing potential stays in step with home values.

Why This Matters for Retirees

For homeowners age 62 and older, the HECM reverse mortgage allows them to access their home equity without taking on a monthly mortgage payment. The loan proceeds can be received as a lump sum, monthly installment, line of credit, or even used to help purchase a new home, an increasingly popular strategy for downsizing or relocating in retirement.

The amount of money available through a reverse mortgage depends on several factors, including:

  • Age of the borrower (or youngest spouse)

  • Current interest rates

  • Home’s appraised value

  • FHA’s maximum lending limit

With the new higher cap, more homeowners, especially those with homes valued near or above the old limit, may now be eligible to access more equity than they would have under previous limits.

A Boost for Colorado Homeowners

Colorado has seen sustained home appreciation over the last decade, with many older adults now “house rich” but “cash poor.” Seniors in cities like Boulder, Longmont, and Fort Collins, where median home prices often exceed $600,000, may find that the 2026 adjustment gives them greater financial flexibility in retirement.

This is particularly helpful for:

  • Homeowners with high-value homes previously limited by the lending cap

  • Those considering a reverse mortgage for purchase of a new home

  • Couples hoping to delay Social Security to maximize benefits, using a reverse mortgage as a bridge

  • Seniors looking to age in place, make home modifications, or supplement fixed retirement income

The 2026 loan limit increase is a practical, policy-driven change. It’s worth discussing with a knowledgeable reverse mortgage specialist to understand what it could mean for your personal retirement plans.

Whether you’re just beginning to explore options or already weighing how to put your home equity to work, the updated HECM lending limit may open new doors to a more secure and flexible retirement.

Jan Jordan and Kelsey Jorck are Reverse Mortgage Specialists serving the Fort Collins, Loveland, Greeley, Longmont, Boulder and other Front Range areas of Colorado.  Click here to contact them and learn if reverse mortgage is right for you.

Understanding Colorado’s Senior Property Tax Exemption

Posted on by janjordan

For Colorado seniors living on fixed incomes, rising property taxes can be a growing concern—especially as home values increase year after year. Fortunately, the state offers meaningful relief through the Senior Property Tax Exemption, a program that eases the burden of property taxes for qualifying homeowners age 65 and over.

Whether you’re aging in place or exploring a reverse mortgage, this exemption can make a significant difference in your long-term retirement planning.

What Is the Senior Property Tax Exemption?

The Senior Property Tax Exemption is a benefit offered by the State of Colorado to reduce the amount of property tax paid by eligible seniors. The program exempts 50% of the first $200,000 of a home’s assessed value from taxation. That can translate to several hundred dollars in annual savings, depending on your county’s mill levy.

Once approved, the exemption automatically renews each year unless your residency or ownership changes.

Who Qualifies?

To be eligible for the exemption in 2026, you must meet all of the following requirements:

  1. Age: You must be at least 65 years old as of January 1, 2026.

  2. Ownership: You must have owned the home for at least 10 consecutive years prior to January 1 of the year you apply.

  3. Occupancy: The property must be your primary residence.

In some cases, surviving spouses of previously qualified seniors may also continue to receive the exemption.

This benefit is available for single-family homes, townhomes, and condominiums, as long as they are owner-occupied and meet the program criteria.

How Does This Impact Reverse Mortgage Borrowers?

If you have a reverse mortgage, you still own your home and are responsible for property taxes and homeowners insurance, just like any other homeowner. That means you are fully eligible to apply for and benefit from the Senior Property Tax Exemption.

In fact, for seniors using a reverse mortgage to supplement retirement income, reducing annual property tax expenses can further strengthen your ability to age in place comfortably and sustainably.

How to Apply

Applications are processed by your local county assessor’s office. While deadlines vary slightly by county, most require applications to be submitted by July 15, 2026 for the upcoming tax year.

You can download the form from your county assessor’s website or request a paper copy by mail. You’ll be asked to verify your age, ownership, and occupancy. Once approved, you do not need to reapply annually unless something changes with your ownership status or primary residence.

If you’re unsure whether you qualify, your local assessor’s office can help walk you through the process.

Final Thoughts

The Colorado Senior Property Tax Exemption is one of the most straightforward ways for retirees to reduce costs and extend the life of their retirement budget. If you’re over 65, have lived in your home for a decade, and plan to stay, this benefit could save you hundreds each year without requiring major changes to your lifestyle.

When paired with smart tools like a reverse mortgage, the exemption becomes part of a broader financial strategy designed to help you stay in your home, maintain independence, and enjoy peace of mind.

Jan Jordan and Kelsey Jorck are Reverse Mortgage Specialists serving the Fort Collins, Loveland, Greeley, Longmont, Boulder and other Front Range areas of Colorado.  Click here to contact them and learn if reverse mortgage is right for you.

Understanding the Appraisal Process for a Reverse Mortgage

Posted on by janjordan

Getting your home appraised may not sound like the most exciting part of the reverse mortgage process, but it’s an essential step and actually more straightforward than many people expect. For homeowners considering a reverse mortgage, the appraisal not only helps determine how much equity you can access, it’s also a required part of the loan process.

Here’s what to expect, and why it matters.

Why Appraisals Matter

A reverse mortgage allows homeowners aged 62 and older to convert a portion of their home equity into usable funds, often without having to make a mortgage payment. One of the key factors in calculating how much you can borrow is the current appraised value of your home. The higher the value, the more equity may be available to you.

How the Appraisal Process Works

Once you’ve met with a reverse mortgage specialist and submitted your application, the lender will arrange for a licensed appraiser to visit your home. They’ll contact you directly to schedule the appointment.

The appraisal itself happens in three phases: inspection, research, and reporting.

Inspection
During the visit, the appraiser will walk through your home, noting condition, features, and layout. They’ll take photos—both of positive features and any areas needing repair. This gives you a heads-up if any issues need to be addressed before final approval.

Market Research
Next, the appraiser evaluates comparable home sales in your area and analyzes local market trends. They’ll review MLS data, county records, and tax assessments to determine what homes like yours are currently worth.

The Final Report
All this information is compiled into an official appraisal report. This is sent to your lender and used to update your reverse mortgage estimates. You’ll receive a copy for your records as well.

Getting Ready for the Appraiser

While you don’t need to do anything elaborate, small efforts can help ensure a smoother process—like tidying up the exterior, fixing obvious repairs, and making sure the appraiser has full access to all areas of the home.

The Bigger Picture

A reverse mortgage isn’t a one-size-fits-all loan. It can be structured in several ways: as a lump sum, a monthly payout, a line of credit, or even to help purchase a new home. The appraisal helps anchor this flexibility by providing a reliable measure of your home’s value, one that opens the door to a variety of personalized retirement solutions.

Jan Jordan and Kelsey Jorck are Reverse Mortgage Specialists serving the Fort Collins, Loveland, Greeley, Longmont, Boulder and other Front Range areas of Colorado.  Click here to contact them and learn if reverse mortgage is right for you.

What Happens to the Home After a Reverse Mortgage Borrower Passes Away?

Posted on by janjordan

reverse mortgage colorado fort collins loveland greeleyOne of the most common concerns about reverse mortgages is what happens to the home after the last borrower passes away. Will the bank take it? Can the family keep it? The good news is the home stays in the family’s control.

Here’s what happens:

When the borrower dies, the home becomes part of the estate and is passed on according to the will or living trust. The heirs then have three options:

  1. Pay off the loan
    Heirs can choose to pay off the reverse mortgage—either with cash, life insurance, or other assets—and keep the home. Thanks to FHA insurance, they’ll never owe more than 95% of the home’s appraised value, even if the housing market has declined.

  2. Refinance with a new loan
    If heirs want to keep the home but don’t have the cash to pay off the loan outright, they can work with a mortgage broker to take out a conventional loan in their own name.

  3. Sell the home
    If keeping the home isn’t the goal, the heirs can simply sell it. The reverse mortgage will be paid off from the proceeds, and any remaining equity goes to the family.

If there are no heirs—or if the heirs don’t want the property—no one is personally responsible for the loan. The lender will sell the home, and again, thanks to FHA insurance, there is no debt passed on to the family.

One final note: lenders typically allow up to 12 months to settle the loan after the borrower’s passing, usually granted in three-month extensions, as long as the family stays in communication.

Jan Jordan and Kelsey Jorck are Reverse Mortgage Specialists serving Fort Collins, Loveland, Greeley, Longmont, Dacono, Erie, Boulder, and surrounding areas across Colorado’s Front Range.  Click here to contact them and learn if reverse mortgage is right for you.

What Married Couples Should Know Before Getting a Reverse Mortgage

Posted on by janjordan

reverse mortgage loveland fort collins greeley longmont westminster coloradoIf you and your spouse are thinking about getting a reverse mortgage, it’s important to understand how the loan could impact either of you over time, especially in situations where one spouse passes away, moves out for health reasons, or enters the picture later in life. These are real-life scenarios, and being prepared for them can make all the difference in protecting your home and peace of mind.

First, let’s talk about how eligibility works. The amount you can borrow with a reverse mortgage is based on the age of the youngest borrower. The older you are, the more you can typically access. That’s why, when both spouses are 62 or older, it’s usually a good idea to include both of them on the loan. If both names are on the reverse mortgage, the loan continues without interruption when one spouse passes away. The surviving spouse can stay in the home under the original terms until they no longer live there.

But there are other situations to think through. For example, what happens if someone gets a reverse mortgage and later remarries? Let’s say the new couple lives in the home together for many years. If the spouse who originally took out the loan passes away, the new spouse, who wasn’t on the loan, may not have the right to stay in the home. That’s why it’s crucial to consider refinancing and adding the new spouse to the loan if this situation applies to you.

There’s also the possibility that one spouse may need to move into assisted living due to health reasons. In that case, as long as the other spouse is still living in the home and is listed on the loan, the reverse mortgage remains active. The loan only becomes due when the last borrower leaves the home for 12 months or more, or passes away.

Reverse mortgages can offer great flexibility, but married couples need to be especially thoughtful. Talking with an experienced reverse mortgage specialist can help ensure that both spouses are fully protected and that no one is left in a vulnerable position down the road. A good lender should be ready to answer these questions clearly and make your long-term security their top priority.

Jan Jordan and Kelsey Jorck are Reverse Mortgage Specialists serving Fort Collins, Loveland, Greeley, Longmont, Dacono, Erie, Boulder, and surrounding areas across Colorado’s Front Range.  Click here to contact them and learn if reverse mortgage is right for you.

Reverse Mortgage in Colorado: 5 Essential Facts You Should Know

Posted on by janjordan

Reverse Mortgage Loveland Fort Collins ColoradoIf you’re approaching age 62, chances are you’ve already come across the topic of reverse mortgages, whether through mailers, online ads, or conversations with friends. Designed to help retirees achieve financial flexibility and peace of mind, this loan option can feel either inviting or overwhelming depending on how it’s presented.

As with any major financial decision, it’s important to focus on the facts—not the marketing. Here are some straightforward points to help you understand what a reverse mortgage actually involves.

1. Married Couples Can Both Be on the Loan

If both spouses are age 62 or older, they can be listed as co-borrowers on the reverse mortgage. This is a key protection—if one spouse passes away or moves permanently into an assisted living facility, the other can continue living in the home without disruption. The agreement remains unchanged as long as one borrower continues to occupy the home as their primary residence.

2. No Monthly Mortgage Payments

One of the most significant benefits of a reverse mortgage is that borrowers are not required to make monthly mortgage payments. Whether it’s a standard reverse mortgage or one used to purchase a home, the financial responsibility is limited to things like property taxes, homeowner’s insurance, HOA dues (if applicable), utilities, and basic upkeep. As long as the home remains your primary residence, no mortgage payments are due.

3. No Impact on Social Security, Medicare, or Pensions

Funds received from a reverse mortgage are considered loan proceeds, not income, and are therefore tax-free. This means they do not affect Social Security benefits, Medicare eligibility, or pension income. You also won’t need to report them as income on your tax returns.

4. You Keep Ownership of Your Home

Taking out a reverse mortgage does not mean giving up your home. The title stays in your name, and ownership remains entirely with you. Accessing the equity in your home doesn’t change who owns it—it simply allows you to use your home’s value to support your financial goals.

5. Flexible Options for Accessing Funds

Reverse mortgage funds can be accessed in several ways: as monthly payments, a line of credit, a lump sum, or as part of a home purchase. You can use the funds however you wish—whether it’s for travel, home upgrades, medical expenses, or just everyday living.

Through the Reverse Mortgage for Purchase program, you can even buy a new home and close both the home purchase and the reverse mortgage loan at the same time. This option is especially appealing for those wanting to downsize, relocate closer to family, or finally move into their dream retirement home.

Reverse mortgages are available to adults 62 and older throughout Colorado. If you’re considering this option, reach out to a trusted reverse mortgage lender to learn more and explore whether it’s the right fit for your needs and lifestyle.

Jan Jordan and Kelsey Jorck are Reverse Mortgage Specialists serving Fort Collins, Loveland, Greeley, Longmont, Dacono, Erie, Boulder, and surrounding areas across Colorado’s Front Range.  Click here to contact them and learn if reverse mortgage is right for you.