Beware of These Common Reverse Mortgage Tricks That Can Harm Senior Homeowners

Reverse Mortgage Colorado Springs | Kevin A. Guttman | Certified Reverse Mortgage Professional

For many senior homeowners in Colorado Springs and beyond, a reverse mortgage offers a practical way to access home equity during retirement. But not every lender plays fair. Some use misleading tactics that can cost you money—or peace of mind. If you’re exploring this option, be aware of the most common reverse mortgage scams to avoid and how to protect yourself.

Some lenders advertise interest rates that are simply not available. These rates may seem appealing, but they’re often just bait to get you in the door. By the time your loan closes, that rate has changed—leaving you locked into less favorable terms than expected.

Another deceptive move is inflating your home’s value during initial discussions. This gives the illusion of more available funds. Once the real appraisal comes in lower, the lender deflects responsibility with comments like, “I’m not an appraiser.” This tactic can leave borrowers disappointed and feeling misled.

Work with a Certified Reverse Mortgage Professional (CRMP)
Not all lenders are equal. Work with a reverse mortgage broker who shops around for the best deal—preferably someone certified. Kevin A. Guttman is one of fewer than 220 Certified Reverse Mortgage Professionals nationwide, recognized by the National Reverse Mortgage Lenders Association (NRMLA). CRMPs follow a strict code of ethics, ensuring honest, client-first guidance.
Get a Trusted Home Value Estimate
Before you sign anything, check your home’s value using reliable sources like
Realtor.com or Homes.com.
Avoid platforms like Zillow or Redfin, which may provide rough estimates but are known to collect and resell user data.

A reverse mortgage can be a smart solution for many seniors—if handled with care and integrity. Don’t fall for inflated promises or misleading rates. Instead, work with an experienced professional who puts your interests first

Kevin A. Guttman is here to help you make sense of your choices and navigate the process with confidence.
🔹 Visit Our Homepage – Learn how reverse mortgages work
🔹 Take Our Home Equity Quiz – See if this is the right move for you
🔹 Is a Reverse Mortgage Right for You? – A quick assessment
🔹 Contact Kevin – Get one-on-one advice from a CRMP you can trust

📞 Call Kevin A. Guttman today (719) 302-5820 or visit ReverseMortgageRevolution.com to schedule your free consultation. Let’s make sure you get the honest answers and support you deserve as you explore this important financial decision.