Information for Adult Children Archives - Colorado Reverse Mortgage Specialist

Category: Information for Adult Children

Most Americans Want to Stay Home as They Age But Fewer Think They’ll Be Able To

Posted on March 16, 2026April 10, 2026 by janjordan

The goal hasn’t really changed. Most people still want to stay right where they are as they get older. Same home. Same neighborhood. Same routine.

What has changed a bit is how confident people feel about actually pulling that off.

A few years ago, polling from the Associated Press and NORC showed something kind of interesting. The older people got, the less they worried about aging in place. Those 65 and older generally felt more prepared to stay in their homes than people in their 50s and early 60s, who were still working and trying to figure out what retirement would even look like.

That part still holds up today. But newer data adds a twist.

Recent surveys from AARP show that about three quarters of adults over 50 still want to stay in their homes as they age. No surprise there. But here is the catch. Nearly half now say they expect they might have to move anyway.

So the goal is still the same. People just are not as sure they can make it happen.

A lot of that comes down to practical stuff. Housing costs are up across the board. Property taxes, maintenance, insurance, all of it adds up. On top of that, most homes were not exactly designed with aging in mind. Stairs, tight spaces, and basic layout issues can become real challenges over time.

Then there is the bigger picture. People are asking more questions about long term support. Will family be nearby? Will communities have the resources to help? Will programs like Social Security and Medicare look the same in ten or twenty years? Those are not small questions, especially for people who are getting close to retirement but are not quite there yet.

That is why the 50 to 64 age group still tends to feel the most uneasy. They can see retirement coming, but there are still a lot of unknowns. For those already in retirement, things often feel a bit more settled. Decisions have been made, plans are in motion, and that tends to bring some peace of mind.

What has not changed at all is why people want to stay put. There is comfort in being in a familiar place. You know the neighborhood. You know your neighbors. You know where everything is. It is not just about money. It is about staying connected to your life as it is.

The challenge now is that more people are realizing it takes a bit more planning than they may have expected.

That is where different financial tools come into play. Reverse mortgages are one option that has been getting more attention again. For homeowners over 62, they can offer a way to tap into home equity without taking on a monthly mortgage payment. That can help cover expenses, make updates to the home, or pay for care if needed.

It is not the right fit for everyone, but for some, it helps bridge that gap between wanting to stay in their home and being able to afford to.

At the end of the day, the idea of aging in place is still as strong as ever. People are not giving up on it. They are just starting to look at it a little more realistically, and with a bit more planning behind it.

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.

Upcoming Webinar March 19: Understanding Reverse Mortgages

Posted on March 9, 2026March 12, 2026 by janjordan

There is a great deal of confusion surrounding reverse mortgages. Many homeowners have heard conflicting information over the years, some of it outdated, some of it simply incorrect. Unfortunately, that confusion often prevents people from fully understanding an option that could play a role in retirement planning.

On Thursday, March 19 from 12–1 PM (MST), a free educational webinar will take a closer look at how reverse mortgages actually work.

The webinar, titled “Building Wealth: What School Never Taught Us About Reverse Mortgage,” will feature Jan Jordan, HECM Specialist with Mutual of Omaha Mortgage, as the guest speaker. The session will focus on explaining the fundamentals of reverse mortgages, addressing common misconceptions, and discussing how homeowners age 62 and older can access a portion of their home equity while continuing to live in and own their home.

Rather than focusing on sales or marketing, the goal of the webinar is simple: clear, practical education. Attendees will gain a better understanding of how reverse mortgages function, what protections exist for borrowers, and how this type of loan may fit into broader retirement planning decisions.

The event is presented by Kristina Harding of Front Range Collective and will be held live via Zoom.

Whether you are researching options for yourself, helping a parent navigate retirement planning, or simply want to better understand how home equity can be used later in life, this session is designed to provide straightforward information in an accessible format.

Those who cannot attend live are still encouraged to register, as a recording will be provided to registered participants afterward.

Date: Thursday, March 19
Time: 12:00 PM – 1:00 PM (MST)
Location: Live via Zoom

Registration is available here:
https://us02web.zoom.us/meeting/register/1GAWdGNQSWaDnebQK9k-GA

5 Reverse Mortgage Myths That Still Won’t Die in 2026

Posted on February 9, 2026 by janjordan

Even in 2026, reverse mortgages are still misunderstood by many homeowners, neighbors, and sometimes even financial professionals. If you’re 62 or older and exploring ways to use your home equity wisely in retirement, it’s crucial to separate the myths from the facts.

Let’s clear up 5 of the biggest (and most stubborn) reverse mortgage myths still floating around.

Myth #1: “The bank owns your house.”

Reality: You always remain the homeowner.

With a reverse mortgage, the title stays in your name, not the lender’s. You have the right to live in the home as long as it’s your primary residence, you maintain it, and stay current on property taxes and insurance.

If you decide to sell the home or pass it down to your heirs, that’s your choice. A reverse mortgage is a loan, not a property transfer, even though loan payments are not required. The lender does not own your home, period.

Myth #2: “You can’t leave the home to your children.”

Reality: Your heirs still inherit the home and they will have options.

When the last borrower passes away or moves out permanently, the loan becomes due. At that point, your heirs can choose to:

Pay off the loan and keep the home. Some borrowers make arrangements using life insurance or other proceeds as part of any final arrangements plan.
Sell the home and keep any remaining equity after the loan is repaid. If the value of the home has increased drastically since obtaining a reverse mortgage, the heirs own all of that equity, not the bank.
Let the lender sell the home. As a last resort, if the heirs don’t want it or can’t pay off the loan, they are not obligated to the loan in any way.

FHA insurance guarantees your heirs will never owe more than 95% of the home’s appraised value, even if the housing market drops and even if you own much more than that.

Myth #3: “You can lose your home for no reason.”

Reality: Reverse mortgage borrowers have strong protections.

You won’t lose your home unless you violate the basic loan terms, like moving out for over 12 months, or not paying property taxes or insurance.

These rules are clearly explained during required third-party reverse mortgage counseling, which every borrower must complete before moving forward. It’s designed to protect you, not trap you.

Myth #4: “It’s only for people in financial trouble.”

Reality: It’s a strategic tool used by many financially stable retirees.

A reverse mortgage can certainly help someone cover looking to afford medical costs or pay off existing debt, but many financially comfortable seniors in places like Fort Collins, Longmont, and Loveland are using reverse mortgages to:

Delay claiming Social Security for a higher payout
Fund in-home care instead of moving
Renovate a home to age in place
Supplement other retirement investments or cash flow

Reverse mortgages aren’t a “last resort”, they’re a flexible option in a broader retirement strategy.

Myth #5: “Reverse mortgages are a scam.”

Reality: They’re federally regulated and insured.

The Reverse Mortgage HECM is overseen by the FHA and Department of Housing and Urban Development (HUD). Lenders must follow strict guidelines, and borrowers have legal protections every step of the way.

Colorado also has additional consumer protections in place, including required disclosures and timelines.

If you’re a senior homeowner in Northern Colorado, you’ve probably heard some of these myths tossed around by well-meaning friends, family, or news segments. But reverse mortgages in 2026 are not the Wild West. They’re federally insured, strictly regulated, and offer flexible, real-world solutions for today’s retirement challenges AND retirement successess.

Still have questions? That’s normal. Just be sure you’re getting answers from a reputable reverse mortgage expert.

What Does It Mean When a Reverse Mortgage Is FHA Insured?

Posted on January 26, 2026February 9, 2026 by janjordan

If you’ve spent any time researching reverse mortgages, you’ve probably seen the phrase “FHA‑insured” come up again and again. It’s an important distinction, but one that isn’t always well explained. So what does FHA insurance actually mean for homeowners and their families?

The Basics of an FHA‑Insured Reverse Mortgage

Most reverse mortgages today are Home Equity Conversion Mortgages (HECMs), which are insured by the Federal Housing Administration (FHA). These loans are available to homeowners age 62 and older who have sufficient equity in their primary residence.

A reverse mortgage allows eligible homeowners to convert part of their home equity into funds without making monthly mortgage payments. The amount available depends on several factors, including the borrower’s age, the home’s appraised value, and current interest rates. Funds can be accessed in a variety of ways: monthly payments, a lump sum, a line of credit, or even as part of purchasing a new home.

Because the proceeds are loan advances rather than income, they are generally not taxable, and borrowers can use the funds however they choose.

Living in the Home With a Reverse Mortgage

With an FHA‑insured reverse mortgage, the homeowner keeps title to the home and can remain there as long as it continues to be their primary residence. There are no required monthly mortgage payments, but borrowers must stay current on property taxes, homeowners insurance, utilities, HOA fees (if applicable), and basic maintenance.

As long as those obligations are met, the borrower cannot be forced to repay the loan or leave the home.

When the Loan Comes Due

A reverse mortgage becomes due when a maturity event occurs. This typically happens when the last borrower permanently leaves the home or passes away. When that time comes, the loan must be repaid, but FHA insurance plays a key role in protecting both the borrower and their heirs.

After a borrower’s death, the home transfers to the estate or heirs according to the homeowner’s wishes. At that point, heirs generally have two options: they can pay off the loan and keep the home, or they can sell the property.

How FHA Insurance Protects Heirs

This is where FHA insurance provides one of its most important safeguards. Reverse mortgages are non‑recourse loans, meaning neither the borrower nor the heirs will ever owe more than the home is worth at the time the loan is settled.

If heirs choose to keep the home, they are only required to pay 95% of the home’s current appraised value or the loan balance, whichever is less. Any remaining balance is covered by FHA insurance.

If the home is sold, the sale proceeds are used to repay the loan. If the sale price is at least 95% of the appraised value, FHA insurance again covers any shortfall. If the home sells for more than what’s owed, the remaining equity belongs to the heirs. If the home sells for less than what is owed (for example, due to a fluctuating housing market), FHA insurance again covers any shortfall.

Why FHA Insurance Matters

Housing markets change over time, and FHA insurance helps ensure that neither borrowers nor their families are exposed to unexpected financial risk. It provides stability, predictability, and peace of mind, all key reasons many seniors feel more comfortable considering a reverse mortgage as part of their retirement planning.

Reverse Mortgages: Understanding Maturity Events vs. Maturity Dates

Posted on January 19, 2026February 9, 2026 by janjordan

If you’ve ever had a traditional mortgage, you’re probably familiar with the term “maturity date.” It’s the scheduled day when the final loan payment is due, bringing your mortgage to an official close.

But reverse mortgages don’t work that way.

Instead of a maturity date, reverse mortgages operate based on something called a “maturity event”. Understanding the difference can help homeowners and their families feel more confident and prepared.

What’s a Maturity Event?

With a conventional mortgage, you make monthly payments until the loan is fully paid off. You know exactly when that will happen, on the maturity date. But with a reverse mortgage, borrowers don’t make monthly payments. Instead, the loan becomes due only when a specific event occurs in the future. That’s the “maturity event.”

In short, a maturity event is a life event that triggers repayment of the reverse mortgage. There’s no set calendar date; the loan is open-ended and tied to the homeowner’s living situation.

Common Maturity Events

The most common maturity events that end a reverse mortgage loan include:

The home is no longer the borrower’s primary residence (such as moving to a different home or into long-term care).
The property is sold or transferred out of the borrower’s name.
The last remaining borrower passes away.
The borrower moves out for 12 consecutive months or longer (for example, to an assisted living facility).
The homeowner fails to meet loan obligations, such as falling behind on property taxes, homeowners insurance, or HOA fees.

When any of these events occur, the reverse mortgage becomes due and payable. At that time, the loan is typically repaid by selling the home, refinancing, or using other available funds.

For many seniors, the appeal of a reverse mortgage lies in the ability to stay in their home without the burden of monthly mortgage payments. Knowing that repayment is only triggered by a significant life change, and not a scheduled date, can provide peace of mind.

It’s important to remember that while reverse mortgages don’t require regular payments, homeowners are still responsible for maintaining the home, paying property taxes, and keeping up with homeowners insurance. These ongoing responsibilities help keep the loan in good standing and prevent early maturity.

Reverse mortgages are available to homeowners age 62 or older. They allow borrowers to convert a portion of their home equity into usable funds, either through a lump sum, monthly payments, a line of credit, or even to help purchase a new home.

The loan is backed by the Federal Housing Administration (FHA), and borrowers retain ownership of their home as long as they meet the program requirements.

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

Posted on November 10, 2025November 13, 2025 by janjordan

One 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:

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.
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.
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.

Is Aging in Place Right for You? Here’s How to Know

Posted on September 29, 2025October 22, 2025 by janjordan

Retirement looks a lot different than it did just a few decades ago. There was a time when growing older meant moving in with your adult children or settling into a senior home. Then came the era of retiring to sunny destinations with golf courses and palm trees. But today, a growing number of retirees are choosing something much simpler: staying put.

According to AARP, roughly 90% of Americans over age 65 say they want to age in place. And 82% say they’d prefer to receive care at home if medical needs arise. That’s a big shift—and it’s changing how many people are planning their retirement.

So how do you know if aging in place is the right choice for you? Here are a few key signs.

First, you’ve built a strong network where you are. Staying connected is essential to a happy retirement. If you have friends nearby, family close enough to visit often, and a community you enjoy, that’s a major reason to stay. In fact, studies show that having a solid social circle—whether through work, volunteering, church, or hobbies—can improve your physical and emotional well-being during retirement. Moving away from children, grandchildren, or even great-grandchildren can be incredibly difficult, and for many, not worth the trade-off.

Second, you’ve already established trusted service providers. That could mean your primary care physician, a specialist familiar with your medical history, your dentist, or even your mechanic and hairstylist. When you’ve built these relationships over time, it can be hard to start over somewhere new—especially if you’re managing health conditions or relying on regular care.

And third, maybe selling your home just doesn’t feel right. Even with Colorado’s strong housing market, there are personal and emotional reasons many people don’t want to part with their home. Maybe it’s been in the family for generations, or it’s been customized to fit your needs. Or maybe selling just sounds stressful.

The good news is: you don’t have to move in order to afford retirement. For many homeowners, a reverse mortgage has made aging in place not only possible, but practical. These specialized loans are available to homeowners aged 62 and older, including married couples, and come with built-in protections like required third-party counseling to help borrowers make fully informed decisions.

A reverse mortgage lets you access the equity in your home without taking on a monthly mortgage payment. You stay in your home, keep the title, and use the funds however you choose, whether that’s covering day-to-day expenses, upgrading your home, helping loved ones, or simply breathing easier financially.

And for those looking to relocate, maybe into a more accessible home or a smaller one nearby, there’s also a reverse mortgage for purchase option that allows you to buy your next home and live in it mortgage-free for life.

Whether you’re already retired or planning for it soon, aging in place is more possible than ever—and with tools like reverse mortgages, it may be easier than you think.

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.

There’s No Such Thing As TOO OLD For A Reverse Mortgage

Posted on March 21, 2025April 11, 2025 by janjordan

The minimum age for a reverse mortgage loan is 62, but what about a maximum age? Is anyone ever too old for a reverse mortgage? I don’t think so, although it won’t be right for everyone.

Reverse mortgages are available to homeowners, or those seeking to purchase a home, who are 62 and older, including married couples. There are NO loan or mortgage payment requirements while living in the home, but they are responsible for continuing to pay property taxes, homeowners insurance, and any other associated costs such as HOA fees and utilities. The loan becomes due when the last borrower passes away or permanently leaves the home (for 12 consecutive months).

Common reasons for seeking out a reverse mortgage include boosting retirement income, strategically protecting retirement assets or delaying the use of them, medical care, or simply to have a safety net. The creative uses for reverse mortgages go full circle. But what about the very elderly? How can it help them?

I once worked with a 100 year old man to obtain a reverse mortgage on his home and fund in-home care while he continued to age. He was able to reside at home with 24 hour care at a cost of $10,000 a month. When I was sitting at the closing table with this client and his lawyer, the lawyer mentioned that that he could move to an assisted living facility at half the cost ($5,000/month). This gentleman’s quick, sharp answer back to everyone? “NO…. I’m staying in my home.” And he did. And I was honored to have helped him be able to do that.

Another example would be if a parent-adult child duo were living together as they both age. In many of these cases, it’s common both are age eligible to be on the loan. And why shouldn’t they be?

Sometimes the elderly want to live out the final years of their life by sharing time and gifts with those they love. Why not offer inheritance while you’re here and can enjoy watching those you love reap the rewards of it?

Whatever the reason, reverse mortgage may be the answer, no matter how old the borrower is.

One concern that can arise is whether or not the elderly can pass the financial assessment needed to obtain the reverse mortgage loan, since they likely have limited income by this point. But older borrowers can tap a larger percentage of their home’s equity, allowing for a potential set-aside of funds to cover required expenses. The reason is that their life expectancy is shorter, meaning the expected term of their loan will be shorter, too.

Older Adults Want To Age At Home – And Reverse Mortgages Can Help

Posted on December 23, 2024January 6, 2025 by janjordan

As traditional forms of elder care continue to be overshadowed by numerous other options, reverse mortgage is often helping senior individuals stay in their homes while they age. Since reverse mortgages can open up opportunity to turn home equity into liquid cash, without having to move or make a mortgage loan payment, seniors and their families are using this opportunity to pay for care that would otherwise not be covered by basic Medicare or Medicaid.

Traditionally, “long term” elder care takes place in a nursing home or assisted living facility. Medicare or Medicaid will often cover these expenses. but there is little public assistance for “in-home care”, although it varies from state to state. As economic woes lend to retirement fears, reverse mortgage is more commonly being utilized for what it can do best, provide security for those most in need and offer a longer-term lifeline without disrupting the lives of the recipients.

Studies have shown that the benefits of aging in place can be enormous for the right candidate. Not only can a move be both emotionally and physically challenging on a senior, especially one with medical concerns, it’s known that the quality of life tends to increase when seniors maintain their independence and their community ties. Benefits include:

Comfort. We all know the saying “There’s no place like home”, but this is often especially true when a senior has lived in a home for years or has lost a spouse. Uprooting from such familiarity can have drastic affects.
Community Ties. More often seniors are developing strong community ties well into their retirement years. Family and friends are wonderful for grounding an aging loved one.
Independence. Remaining independent keeps seniors healthier than ever realized before. It also allows them to continue doing many of the things they have always done and enjoyed.
Mentality. Our home life strongly impacts how we feel mentally. If a senior stays home to age they are likely to feel much better and happier than one that has been put into a nursing home or assisted care facility.

A reverse mortgage can help seniors 62 and over tap into their home equity regardless of income or credit. For more detailed information on how a reverse mortgage works, click here.

5 Tips To Helping Your Aging Parents

Posted on December 16, 2024January 6, 2025 by janjordan

With the holidays behind us, it’s not uncommon for adult children to reach out to me to discuss a reverse mortgage as an option to help their aging parents. They often spend a little more time with family and may realize things are changing with their parents and in their home. Here are my tips to helping your parents or older loved ones…

1.) Talk with them

Don’t hide your concerns or exclude them from the conversation, no matter how uncomfortable it is. Ask them to sit with you and discuss your concerns. Discuss their wants and needs. Learn about their financial situation and retirement resources. Having a honest face to face conversation is the first step to determining what is best for them.

2.) Discuss living arrangements

Find out what your parents want to do long term regarding their home. Discuss what they ultimately want, and what would make them change their mind. According to AARP, 90% of retirees want to age at home. Do they have concerns with their home? Do they need updates? Is the home too big? Too many stairs? Do they want to move to a smaller home? If medical care became a need, how will this be managed?

3.) Look into the various options such as insurance and reverse mortgage

When discussing how to finance potential scenarios, educating yourself about the various options such as long term care insurance and reverse mortgages will go a long way. The two can even be used together by using some of the reverse mortgage funds to pay for long term care insurance, especially when there are medical concerns.

4.) Come to an agreement about how much is expected out of adult children

Adult children may want to give the world to their parents, but is that really feasible? And how do the parents feel about that? Determining expectations all around, along with setting hard boundaries, will ease any resentment down the road.

5.) Seek out a professional

There are many resources for seniors – whether it’s community resources or elder attorneys. When you’re unsure of the options or what is best, enlisting a professional can help to ease everyone’s mind.

Reverse mortgages are available to homeowners 62 and over, including married couples, with many protections in place to ensure borrowers are adequately educated before using this option, such as required third-party counseling, reverse mortgages are gaining in popularity among retirees from all walks of life. A reverse mortgage for purchase option is available for those looking to purchase a new residence.