Resource Hub
I put these guides together to answer the questions families bring to a reverse mortgage, in plain words. Every page shows when I last checked the facts and where they come from.
43 guides · 235 short answers to common questions
Set-asides
How a set-aside (LESA) works: who needs one and what it costs
A Life Expectancy Set-Aside holds back part of a reverse mortgage to pay property taxes and insurance. Who needs one, what it covers, and what it costs you.
Tom JarboeRead the guideRefinancing
Refinancing your mortgage into a reverse mortgage with a set-aside
How homeowners 62+ (55+ for some loans) can use a reverse mortgage to pay off the mortgage they have now, with a set-aside for taxes and insurance, and when it doesn't work.
Tom JarboeRead the guideSecond mortgage
HomeSafe Second: tap your equity and keep your first mortgage
HomeSafe Second is a reverse second mortgage that sits behind the mortgage you have now. Who it fits, what it costs, and how it compares with a HECM.
Tom JarboeRead the guideFinancial review
The Financial Assessment: what a reverse mortgage lender checks
Before a reverse mortgage, the lender reviews your credit history, income and expenses. Here is what that means and what to gather first.
Tom JarboeRead the guideTaxes & insurance
Behind on taxes or insurance on a reverse mortgage: what to do
If you're behind on property taxes or insurance with a reverse mortgage, call your servicer first. Here are the help options HUD's rules describe.
Tom JarboeRead the guideRefinancing
Refinancing a reverse mortgage you already have (HECM to HECM)
Can you refinance a reverse mortgage? How a HECM-to-HECM refinance works, HUD's cost disclosure, the insurance credit, counseling and when it isn't worth it.
Tom JarboeRead the guideHeirs
What happens to a reverse mortgage when a parent dies?
What families can do when the last borrower on a reverse mortgage dies: the choices, the 95% rule, the spouse rule and a step-by-step timeline.
Tom JarboeRead the guideHelping a parent
My parents have a reverse mortgage. What should I do now?
For adult children whose parent is living with a reverse mortgage: find the servicer, check the bills, get permission to talk, and spot trouble early.
Tom JarboeRead the guideMoving to care
Moving to care, living elsewhere part of the year, or renting a room
What the main-home rule means for a move to care, months away from home or a rented room, and what an eligible spouse can do.
Tom JarboeRead the guideSpouses
A younger spouse who isn't on the reverse mortgage
A spouse who isn't a borrower may be able to stay after the borrower dies, but only if they were named in the loan papers at closing.
Tom JarboeRead the guidePower of attorney
Power of attorney and conservatorship for a reverse mortgage
Can a power of attorney sign a reverse mortgage for a parent? HUD's rules, California's POA and conservatorship laws, and why to plan before memory loss.
Tom JarboeRead the guideTitles
Who has the title to a home with a reverse mortgage? Life estates, survivorship and trusts
Who owns a home with a reverse mortgage, how joint tenancy, life estates and living trusts work with a HECM, and what to check before adding a child to title.
Tom JarboeRead the guideHeirs
Can heirs walk away from a reverse mortgage? Deed in lieu after a death
How heirs hand a house with a reverse mortgage back with a deed in lieu: when it makes sense, the 9-month deadline, cash for keys, clear title and taxes.
Tom JarboeRead the guideHeirs
Inheriting a house with a reverse mortgage: keep it, sell it, or walk away
Heirs of a home with a reverse mortgage can keep it, sell it, or sign it over. What each choice costs, the 95% rule, taxes, and Prop 19.
Tom JarboeRead the guideTrusts and probate
Can a reverse mortgage be in a trust? Title, wills, probate and power of attorney
Who owns the home, living trusts, adding a child to title, wills, probate and power of attorney with a reverse mortgage, under HUD and California rules.
Tom JarboeRead the guideScams and fraud
Reverse mortgage scams: protecting a parent from fraud, pressure and dementia risks
How families spot reverse mortgage scams and pressure, what the law forbids, what to do about memory loss, and where to report in LA and San Bernardino.
Tom JarboeRead the guidePros and cons
Is a reverse mortgage a good idea? Honest answers, both sides
The honest pros and cons of a reverse mortgage: the growing balance, less for heirs, the costs, the bills you still pay, and who it fits and who it doesn't.
Tom JarboeRead the guideKeeping the home
Can you lose your home with a reverse mortgage? Taxes, insurance and getting more time
Yes, if the loan terms aren't met, most often unpaid property taxes or insurance. How a loan comes due, the help HUD's rules allow, and what to do.
Tom JarboeRead the guideOther options
Before a reverse mortgage: HELOC, home equity loan, selling or downsizing
HELOC vs reverse mortgage, a home equity loan, cash-out refinance, selling or downsizing, and California's tax postponement, compared fairly in one table.
Tom JarboeRead the guideProperty taxes
Property Tax Postponement or a reverse mortgage?
Property Tax Postponement or a reverse mortgage? Who qualifies for California's program, when to file, and why a reverse mortgage makes postponed taxes due.
Tom JarboeRead the guideCosts
What a reverse mortgage really costs
Reverse mortgage costs explained: FHA mortgage insurance, the origination fee cap, closing costs, servicing and interest, and why the balance grows.
Tom JarboeRead the guideBenefits
Will a reverse mortgage affect SSI or Medi-Cal?
California treats reverse mortgage payments as loan proceeds, not income, for state programs, but limits apply. Ask a benefits advisor first.
Tom JarboeRead the guideScams and fraud
Are reverse mortgages a scam? 10 myths, the real downsides and the red flags
Why reverse mortgages get a bad name, what's true and what isn't, the real downsides that remain, and the red flags of a reverse mortgage scam.
Tom JarboeRead the guideCosts
Reverse mortgage fees and mortgage insurance (MIP), line by line
Each HECM fee under HUD rules: the 2% upfront MIP, 0.5% annual MIP, origination fee cap, allowed closing costs, servicing fees and charges after closing.
Tom JarboeRead the guideCounseling
Reverse mortgage counseling near Diamond Bar
Who must meet with a HUD-approved reverse mortgage counselor, how a session works, what it costs, and California's 7-day wait.
Tom JarboeRead the guideHow it works
How a reverse mortgage works in California, step by step
The steps of an FHA-insured HECM reverse mortgage in California, from counseling and the 7-day wait to closing, what you keep paying, and when it comes due.
Tom JarboeRead the guideQualifying
Who qualifies for a reverse mortgage, and why people are denied
Reverse mortgage requirements in plain English: age 62, main home, equity, counseling, the Financial Assessment, the home itself, and why people are denied.
Tom JarboeRead the guideHow much
How much can you get from a reverse mortgage? What decides it, and the line of credit
What decides how much a reverse mortgage pays (age, rates, home value, the 2026 HECM limit), the 60% first-year rule, and why a calculator only estimates.
Tom JarboeRead the guideLoan types
The types of reverse mortgages, explained with examples
HECM, HECM refinance, HECM for Purchase, jumbo, HomeSafe Second and single-purpose reverse mortgages: what each is and who it fits.
Tom JarboeRead the guidePayout options
How you can receive the money: lump sum, monthly payments or a line of credit
How to take money from a reverse mortgage: lump sum, set monthly payments, payments while you live there and meet the terms, a line of credit, or a mix.
Tom JarboeRead the guideYour servicer
After closing: who services your reverse mortgage and what your papers should show
Who your reverse mortgage servicer is, what monthly statements show, the yearly occupancy check, line of credit draws, and tax and insurance proof.
Tom JarboeRead the guidePaying it off
How to get out of a reverse mortgage: cancel, pay off early, refinance or sell
Four ways out of a reverse mortgage: the 3-day right to cancel, paying it off early with no penalty, refinancing, or selling the home.
Tom JarboeRead the guideQualifying
Reverse mortgage credit and income requirements: what lenders check, and how
No minimum credit score or income for a HECM, but lenders check payment history, property taxes, income and residual income. HUD's rules, item by item.
Tom JarboeRead the guideYour home
Which homes qualify for a reverse mortgage: condos, manufactured homes, ADUs and repairs
Can you get a reverse mortgage on a condo, mobile home, duplex or home with an ADU? HUD's property rules in plain English, and how repairs work.
Tom JarboeRead the guideAppraisal
Reverse mortgage appraisal: what happens and what can go wrong
How a reverse mortgage appraisal works, who orders and pays for it, how long it's good for, low values, second appraisals and your right to a copy.
Tom JarboeRead the guideYour servicer
Problems with your reverse mortgage servicer, and where to complain
How to file a complaint about a reverse mortgage servicer: written error notices, information requests, the CFPB, HUD and California's DFPI.
Tom JarboeRead the guideInsurance
Reverse mortgage insurance in California: fire, earthquake, flood and the FAIR Plan
Do you need earthquake insurance with a reverse mortgage? HUD's insurance rules, flood zones, the FAIR Plan and what happens if insurance lapses.
Tom JarboeRead the guideDiamond Bar
Reverse mortgages in Diamond Bar: counseling, tax and senior help
Where Diamond Bar families can find independent reverse mortgage counseling, county senior services, property tax postponement and scam warnings.
Tom JarboeRead the guideWalnut
Reverse mortgages in Walnut: counseling, the senior center and tax help
For Walnut homeowners: independent reverse mortgage counseling, the Walnut Senior Center, LA County help lines, tax postponement and translated contracts.
Tom JarboeRead the guideChino Hills
Reverse mortgages in Chino Hills: counseling, San Bernardino County help and taxes
For Chino Hills homeowners: nearby HUD-approved counseling, San Bernardino County tax, aging and abuse lines, the Community Center, and higher-value homes.
Tom JarboeRead the guideRowland Heights
Reverse mortgages in Rowland Heights: county help, counseling and translated contracts
Rowland Heights has no city hall, so LA County services apply. Counseling, the county senior site, repair grants, tax help and translated contracts.
Tom JarboeRead the guidePomona
Reverse mortgages in Pomona: counseling, senior centers and county help
For Pomona homeowners: independent reverse mortgage counseling nearby, Pomona's two senior centers, LA County help lines, tax postponement and translated contracts.
Tom JarboeRead the guideWest Covina
Reverse mortgages in West Covina: counseling, Cortez Park senior help and taxes
For West Covina homeowners: HUD-approved counseling nearby, free legal and social services at Cortez Park Senior Center, LA County help lines and translated contracts.
Tom JarboeRead the guideTom explains · Nov 4, 2026
Set-asides, in plain words: pay your taxes and insurance on time
What a Life Expectancy Set-Aside (LESA) is, who usually needs one, the difference between fully and partially funded, what it costs you, and the habit that helps you avoid one, from Tom Jarboe.
Read the note
Scam alert · Nov 3, 2026
Scam alert: home title fraud, and anyone who asks for your deed
California's DFPI warned in June 2026 that title thieves target older homeowners. The red flags, the free county alerts, and where to report.
Read the note
How-to · Nov 3, 2026
What to bring to reverse mortgage counseling (a checklist)
Papers to gather, questions to ask, who has to come, how long it takes and what it costs, for your required HUD-approved reverse mortgage counseling.
Read the note
Deadline · Nov 3, 2026
Property tax deadlines, now through April: Dec. 10, 2026 and April 12, 2027
LA and San Bernardino County 2026-27 property tax dates, why unpaid taxes matter more with a reverse mortgage, and what to do if you're behind.
Read the note
Myth vs. fact · Nov 3, 2026
Myth of the week: "The bank takes your house"
With a reverse mortgage you keep the title, and a HECM is non-recourse. Here's the truth, plus the real downsides that can cost you the home.
Read the note
For real estate agents
HECM for Purchase: what a buyer's agent needs to know
For buyer's agents with a client 62 or older: HUD's rules on the buyer's own funds, seller credits, repairs, condos, new homes and contract timing.
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For agents and attorneys
Listing or settling a home after the last HECM borrower dies
For listing agents and estate attorneys: the servicer's notice, the 30-day and six-month clocks, extensions, the 95% rule, and who can sign in California.
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For real estate agents
Is your 62+ (or 55+) client a fit for a reverse mortgage? Five questions
Five plain questions real estate agents can ask a buyer or seller 62 or older, what each answer signals, and the signs a reverse mortgage isn't a fit.
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For planners and CPAs
Where a reverse mortgage fits in a retirement plan, and where it doesn't
For financial planners and CPAs: where a HECM can fit a client's income plan, how the IRS and SSA treat it, the costs, the effect on heirs, and a file checklist.
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For real estate agents
Listing a home with a reverse mortgage while the owner is living
For listing agents: how to get the payoff, who can sign and ask, HUD's sale-price rules if the home is worth less than the loan, and the 12-month care rule.
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For estate attorneys
Trusts, life estates and title with a reverse mortgage
For estate planning attorneys: HUD's HECM rules on living trusts, life estates, co-owners, non-borrowing spouses and powers of attorney, with sources.
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Or browse every question families ask, with short answers →
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Talk with Tom first. Ask anything, with no pressure: (909) 869-6588 or [email protected]. Before you can apply, you'll meet with an independent HUD-approved counselor. It's required, and Tom will give you a list of agencies. We don't choose or pay them. Find one on HUD's site or call (800) 569-4287. How counseling works.
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Reverse Mortgages in California: A Family Guide
I put the key rules from this site into one printable guide for your family: how it works, set-asides, what happens when a parent dies, and the questions to ask. Instant download after you enter your email. No phone number needed.