Straight talk from Kevin Guttman, Certified Reverse Mortgage Professional

When it comes to reverse mortgages, there’s a lot of confusion — and unfortunately, plenty of misinformation. As a Certified Reverse Mortgage Professional (CRMP) and someone who has worked closely with hundreds of senior homeowners across Colorado, I’ve seen the good, the bad, and the downright misleading. That’s why I’ve put together this insider’s guide — to help you understand how reverse mortgages really work, what to look out for, and how to protect yourself while making a smart financial decision.

What Is a Reverse Mortgage — Really?

A reverse mortgage is a loan for homeowners aged 62 and older that allows you to access a portion of your home equity without having to sell your house or make monthly mortgage payments. The most common type is the Home Equity Conversion Mortgage (HECM), which is insured by the Federal Housing Administration (FHA).

The money you receive can be taken as a lump sum, monthly payments, or a line of credit. You remain the owner of your home and continue to live in it — as long as you pay your property taxes, homeowners insurance, and maintain the property.

Why Reverse Mortgages Are Misunderstood

From media scare stories to predatory sales tactics, reverse mortgages often get a bad name. The reality is, reverse mortgages are not for everyone, but for the right person and situation, they can be a powerful tool.

Here’s what I tell my clients:

  • A reverse mortgage is not a scam.

  • You do not give up ownership of your home.

  • It won’t impact your Social Security or Medicare.

  • You can’t lose your home if you meet the loan requirements.

The key is working with someone who tells you the truth, not just what you want to hear.

Who Should Consider a Reverse Mortgage?

Reverse mortgages can be a smart option if:

  • You want to stay in your home but need additional income

  • You’re looking to eliminate monthly mortgage payments

  • You have limited retirement savings but high home equity

  • You’re planning for long-term care or health expenses

  • You want to supplement your retirement income with flexibility

If you’re a homeowner in Colorado and any of these scenarios sound like you, a reverse mortgage might be worth exploring. But only after you’ve looked at the numbers and discussed the impact with a trusted expert.

What Most Lenders Won’t Tell You

As someone who shops multiple lenders for my clients, I can tell you — there’s a wide range in service quality. Some lenders use high-pressure tactics or only show you one loan option. Others may inflate your home’s estimated value early on, only to revise it after the appraisal comes in.

Here’s what you should demand from your reverse mortgage advisor:

  • Full transparency on all fees, interest rates, and terms

  • Education first — no pressure, no rushing

  • A written estimate of what you will receive and owe

  • Clear guidance on how your loan affects your heirs or estate

And most importantly — someone who answers your questions in plain English.

Your Options: Beyond Just a Lump Sum

One of the biggest misconceptions is that reverse mortgages are only good for getting a large cash payment. That’s just one option. You can also:

  • Set up a line of credit that grows over time

  • Use the loan to purchase a new home through HECM for Purchase

  • Choose monthly payments to supplement retirement income

  • Use the funds strategically to delay drawing from other assets

I work with my clients to create a personalized plan that fits their goals — not just a one-size-fits-all loan.

What Happens When You’re Gone?

A big concern for many seniors is what happens to the house after they pass. Here’s the truth:

  • The loan becomes due when the last borrower (or eligible non-borrowing spouse) leaves the home.

  • Your heirs can repay the loan and keep the home, or sell the property and keep the remaining equity.

  • No one is stuck with debt — it’s a non-recourse loan, which means the lender can never claim more than the home is worth.

With proper planning, your reverse mortgage can benefit both you and your family.

Why Work with Kevin Guttman?

As one of the fewer than 200 Certified Reverse Mortgage Professionals in the country, I hold myself to the highest standard. My role isn’t to “sell” you a loan — it’s to educate, guide, and advocate for your best interests.

At ReverseMortgageRevolution.com, I offer:

  • Free consultations

  • Honest advice with no pressure

  • Access to multiple lenders and competitive options

  • A proven track record of helping seniors stay in their homes and retire with confidence

Ready to Explore Your Options?

If you’re curious about reverse mortgages but not sure where to start, let’s talk. I’ll help you understand how it works, what it means for your future, and whether it’s the right move.

Schedule your free reverse mortgage consultation

If you’re considering a reverse mortgage in Colorado, take the time to shop smart. Kevin Guttman will guide you through your options, answer every question, and help you make the most informed decision possible.

Visit ReverseMortgageRevolution.com or contact Kevin directly to schedule your free, no-pressure consultation.

Contact Kevin Guttman today for personalized guidance and discover if a reverse mortgage is right for you:

Explore your options confidently and secure a comfortable, financially stable retirement with Kevin Guttman, Denver’s trusted reverse mortgage expert.