Reverse Mortgage Denver CO | Kevin Guttman CRMP | Trusted Local Specialist
If you’re a homeowner over 62 in Denver, Colorado, and you’ve been wondering whether a reverse mortgage could help you in retirement, chances are you’ve run into some confusing — or downright misleading — information.
Let’s face it: reverse mortgages have a reputation problem. Some people think you lose your home. Others assume they’re a last-ditch option for people who didn’t save enough. And unfortunately, many Denver seniors never explore what could be a smart financial tool — simply because they’re reacting to myths, not facts.
That’s why we’re setting the record straight.
As a Certified Reverse Mortgage Professional (CRMP), Kevin Guttman has helped hundreds of Colorado homeowners tap into their equity the right way — with clarity, transparency, and no pressure. Below, we’ll unpack the most common reverse mortgage myths and share what’s actually true for seniors in Denver.

Table of Contents

Myth #1: “If I get a reverse mortgage, I give up ownership of my home.”

Truth: You absolutely keep full ownership of your home.
This is one of the most stubborn myths — and one that stops people from even asking questions. But here’s the truth: a reverse mortgage works just like a traditional mortgage in one key way — you remain on the title. The lender places a lien (like any mortgage), but you don’t sign over your home or give up control.
You still live there. You still maintain it. And when the home is eventually sold, any leftover equity goes to you or your heirs.

Myth #2: “The bank can kick me out if I live too long.”

Truth: There is no time limit on how long you can stay in your home.
This myth stems from confusion over how the loan is repaid. A reverse mortgage is designed to last as long as you live in your home. It only becomes due when you permanently move out — usually when you sell, relocate, or pass away.
You won’t be forced to leave because of your age or how much equity you’ve used. As long as you live in the home, keep up with basic responsibilities like property taxes, insurance, and maintenance, the home is yours — for life.
Want to see how much you might qualify for? Try our quick, no-obligation Reverse Mortgage Calculator — customized for Denver homeowners.

Myth #3: “My kids will get stuck with debt.”

Truth: Reverse mortgages are non-recourse loans, which means your heirs will never owe more than the home is worth.
Here’s how it works: when the loan ends, your family can either sell the home and repay the loan (keeping any leftover equity), or walk away and let the lender sell it. If the loan balance ever exceeds the home’s value, FHA insurance covers the difference — not your heirs.
Your kids won’t inherit debt. And in many cases, there’s equity left over after the loan is paid off.

Myth #4: “Reverse mortgages are only for people who are broke.”

Truth: Reverse mortgages are used by both financially comfortable and financially stretched seniors — because they’re flexible retirement tools.
Some Denver homeowners use reverse mortgages to:

  • Pay off an existing mortgage (eliminating monthly payments)
  • Set up a growing line of credit for future needs
  • Delay drawing down investments or Social Security
  • Make home improvements or cover healthcare costs
  • Fund travel or support family — all while staying in their home

It’s not about desperation — it’s about unlocking the value you’ve built in your home to create options and peace of mind in retirement.

Myth #5: “Reverse mortgages are scams or unsafe.”

Truth: Today’s reverse mortgages are heavily regulated, federally insured, and built with consumer protections.
To get a reverse mortgage, you’re required to complete independent HUD-approved counseling before moving forward. That’s to make sure you understand every aspect of the loan and aren’t being pressured.
Plus, you’ll receive clear disclosures about:

  • Interest rates
  • Loan terms
  • Fees and closing costs
  • Repayment options

And when you work with someone like Kevin Guttman, a CRMP with over 15 years of experience in Colorado, you’ll get personalized advice and honest guidance — not a sales pitch.

Why This Matters for Denver Seniors

Denver has one of the fastest-growing senior populations in the state, and home values have risen significantly over the last two decades. That means thousands of older homeowners are sitting on untapped equity — often while facing rising costs for healthcare, property taxes, and everyday living.
With the median home price in Denver over $600,000, even homeowners with modest incomes may be able to access a significant amount of cash or eliminate a mortgage payment altogether — without moving.

Next Steps: Talk to Kevin or Explore on Your Own

If you’re ready to find out what a reverse mortgage might look like for your home, here are three easy ways to get started:
🔹 Take the Home Equity Quiz – See if you’re a good candidate
🔹 Use the Calculator – Get a quick estimate based on your age and home value
🔹 Contact Kevin Directly – Get answers from a local Certified Reverse Mortgage Professional

📞 Questions? Call (719) 302-5820
Or visit ReverseMortgageRevolution.com to learn more about Reverse Mortgage solutions for Denver CO homeowners.