Colorado Reverse Mortgage
Colorado Reverse Mortgage
Our goal is to teach others and spread knowledge about the Reverse Mortgage program. Explore the “drop-downs” in the menu bar above for many more details and other information not provided here on the home page.
Home Equity Line of Credit or Reverse Mortgage Line of Credit
How a Home Equity Conversion Mortgage for Purchase works
Discover the Benefits of a Reverse Mortgage Line of Credit
Colorado Reverse Mortgage information in a nutshell…
That’s a short question with a long answer! At Colorado Reverse Mortgage, our goal is to teach others and spread knowledge about the Reverse Mortgage program and options. Explore the “drop-downs” in the menu bar above for many more details and other information not provided here on the home page.
The term “Reverse Mortgage” typically refers to a Home Equity Conversion Mortgage or a “HECM” (pronounced “heck-um”). It is a highly regulated program that is insured by HUD thru FHA (the Federal Housing Administration) and is intended to benefit homeowners 62 years of age and older. Because it is a unique and specialized program, most mortgage lenders do not offer or fully understand this product. Some lenders advertise the Reverse program but are not specialists familiar with the intricacies or are aware of recent changes that affect you.
There are other private or “proprietary” reverse mortgage products that may be a better fit for your situation. These can be excellent options but because of their uniqueness, it is recommended that you visit with a certified Loan Officer to help determine if it is an appropriate solution for your specific situation. This site primarily focuses on the government guaranteed HECM product but when you call us, we’ll review all options. Follow this link to learn some (like you don’t have to be 62!) details about the non-HECM reverse mortgage.
Also, DO NOT ever feel rushed or pressured by any lender or telemarketer… Obtaining a reverse mortgage is a process. It is our belief that it is a process beginning with an in-depth education so you are confident in your understanding and are making the right choice for you. If you get multiple phone calls and other solicitations pressuring you to move quickly, simply tell them that you’re not interested and to remove your contact information from their database.
For your peace of mind, choose a trusted professional who has a documented history of assisting seniors with the HECM program and who is actively committed to seniors and the Reverse Mortgage industry.
Reverse Mortgages can be a complex financial tool and are often misunderstood, but they don’t need to be! A Colorado Reverse Mortgage educates seniors, families and their financial planners about the reverse mortgage advantages and its disadvantages.
At Colorado Reverse Mortgage, we only offer the Reverse Mortgage program to Colorado homeowners. We are specialists. We are NOT a “call center” located in another state and we do not originate Conventional “forward” mortgages. Our Certified Reverse Mortgage Professional (CRMP) educates Coloradoans about the HECM Reverse Mortgage program. Our office is located in Boulder, CO.
These materials are not from HUD or FHA and were not approved by HUD or a government agency.