A straight answer
Can my parent get a reverse mortgage, and is it the right move?
The direct answer
Yes. I place reverse mortgages, and eligibility depends on your age, equity and home. I'm Zach von der Linden (NMLS 1652805), a mortgage broker with West Capital Lending, based in San Clemente. The federally insured version is the Home Equity Conversion Mortgage, and the borrower keeps paying property taxes, homeowners insurance and any HOA dues.
The federally insured version is the Home Equity Conversion Mortgage, or HECM, available through FHA-approved lenders; the regulation requires that “the youngest borrower shall be 62 years of age or older at the time of loan closing.” There is no required monthly mortgage payment, but the borrower still pays property taxes, homeowners insurance and any HOA dues, and keeps the home in repair.
Whether it is the right move is a separate question, and I will put it next to a home equity line so your parent can see both. I work with homeowners in California, Utah, Oregon and Arizona.
Zach von der Linden, mortgage broker and Branch Manager, West Capital Lending · NMLS 1652805
Wholesale pricing · California, Utah, Oregon and Arizona
5.0 across 66 reviews on Experience.com (read on 2026-09-24) · Text reaches Zach directly · Last updated 2026-10-17
This situation is worked out in a short conversation. No credit pull happens from a conversation. The options check is a soft credit pull with no impact on your credit score for the first look. Texts go to Zach's cell.
What has to be true
This page is not from HUD or FHA and has not been approved by either; it quotes their published rules so you can check them yourself.
The homeowner meets the age rule. For a HECM, the youngest borrower must be sixty-two or older at closing, and federal fair-lending rules expressly permit a reverse mortgage program to require that age.
The home is the homeowner’s principal residence. The regulation says the property “must be the principal residence of each borrower, and if applicable, Eligible Non-Borrowing Spouse, at closing.”
Everyone on title gets counseling first. The regulation requires that “the borrower, any Eligible or Ineligible Non-Borrowing Spouse, and any non-borrowing owner must receive counseling,” and the lender must hand over a list of HUD-approved counselors at the first contact. HUD keeps a counselor roster for this.
The homeowner can keep up the obligations that continue after closing. The regulation says “the borrower must keep the property in good repair” and “must provide for the payment of property charges,” which means taxes, insurance and, where there is an association, the dues. HUD puts it plainly: borrowers “may reside in their homes indefinitely as long as property taxes and homeowner’s insurance are kept current.”
What the lender checks
The home: its value and condition, and whether it is the homeowner’s principal residence.
The homeowner: age, title, and the ability to keep paying taxes, insurance and dues, since those obligations continue for the life of the loan.
Any existing mortgage on the home, because it has to be dealt with as part of the loan. Bring the current statement.
Limits
The balance grows. The CFPB says: “With a reverse mortgage loan, the amount the homeowner owes to the lender goes up–not down–over time. This is because interest and fees are added to the loan balance each month. As your loan balance increases, your home equity decreases.” Nothing on this page states a rate, a fee or a loan amount.
It comes due. The regulation makes the balance due and payable in full if a borrower dies and the property is not the principal residence of at least one surviving borrower, with a deferral for an eligible non-borrowing spouse; if the property stops being a borrower’s principal residence for reasons other than death and no other borrower lives there; or if a borrower “for a period of longer than 12 consecutive months” fails to occupy the property because of physical or mental illness and no other borrower lives there.
The estate is not personally liable. The regulation says “the borrower shall have no personal liability for payment of the outstanding loan balance,” the lender “shall enforce the debt only through sale of the property,” and no deficiency judgment is permitted. The CFPB adds: “The homeowners or their heirs will eventually have to pay back the loan, usually by selling the home.”
There are other options too. A home equity line on the same home may fit a parent who can carry a payment and wants to keep the equity intact. Zach shows both, and says which one he would choose in the same position.
Reverse mortgage or home equity line?
A line requires payments and keeps the balance small. A reverse mortgage has no required monthly mortgage payment, grows the balance over time, and is repaid when the borrower no longer lives in the home. The right answer depends on income, how long your parent plans to stay, and what the family wants left in the home.
Zach walks through both with the family in the room, and neither one is submitted until everyone has seen the comparison. The page on cash from your equity with no monthly payment covers the routes with no monthly payment, including one for homeowners who are not yet sixty-two.
Questions people ask next
Does a reverse mortgage become due if my parent moves into a nursing home?
The regulation makes the loan due when the property stops being the borrower’s principal residence for reasons other than death and no other borrower lives there, and, for illness, when a borrower fails to occupy the property for longer than twelve consecutive months and no other borrower lives there. A spouse who is an eligible non-borrowing spouse can have the due date deferred. Get the program’s written answer for your parent’s specific situation before anyone relies on it.
What happens to a reverse mortgage when my parent dies?
If no surviving borrower lives in the home, the balance becomes due and payable, with a deferral for an eligible non-borrowing spouse. The lender must notify the estate and the heirs, and the regulation gives them the choice to pay the balance in full, sell the home for an amount HUD sets by notice, or hand the lender a deed in lieu of foreclosure. The estate has no personal liability beyond the home itself.
My father was denied a reverse mortgage. What other options does he have?
Ask what the denial was based on, because it points at the alternative. A home equity line, a loan that counts Social Security as qualifying income, or an option built for a specific bill are all things Zach places, and each depends on the borrower, the home and the equity. Text him the reason for the denial and he will tell you what to check next.
What happens if a reverse mortgage goes into default?
The obligations that can be defaulted on are the ones that continue after closing: taxes, insurance, dues, repair and living in the home. The regulation makes the balance due when property charges are not paid or another obligation is not performed, and the lender collects only through sale of the home, with no deficiency judgment against the borrower. Keeping taxes and insurance current is the whole game.
Why do I keep getting conflicting information about reverse mortgages?
Because most of what you read is marketing. The rules themselves are public: HUD’s program page, the federal regulation at 24 CFR part 206, and the CFPB’s plain-language page, all linked in the sources on this page. Read those first, then ask Zach what they mean for your parent’s home.
Can my parent get a reverse mortgage if the house is not paid off?
An existing mortgage has to be dealt with as part of the loan, and whether the numbers work depends on the equity. That is checked before you apply. Bring the current mortgage statement and Zach will tell you where it stands.
Does my parent need counseling first?
Yes, by regulation. The borrower, any non-borrowing spouse and any non-borrowing owner must receive counseling from a HUD-approved HECM counselor before the loan, and the lender must provide a list of counselors at the first contact. It is a good thing: it is the one conversation in the process where nobody is selling anything.
What clients say
Zach was so easy to work with. He made a stressful situation into a very positive experience for us and did push us one way or another. He listened to what we hoped we could accomplish and made it happen.
Word for word from Experience.com. Read all reviews.
Sources and checked dates
Sources: Confirmed by Zach, Sept 2026 (checked 2026-09-26) · HUD, FHA Reverse Mortgages (HECM) for Seniors (checked 2026-09-26) · 24 CFR 206.33, Age of borrower (checked 2026-09-26) · 24 CFR 206.39, Principal residence (checked 2026-09-26) · 24 CFR 206.41, Counseling (checked 2026-09-26) · 24 CFR 206.27(b), Mortgage provisions (checked 2026-09-26) · 24 CFR 206.27(b)(8) (checked 2026-09-26) · 24 CFR 206.27(c), Date the mortgage becomes due and payable (checked 2026-09-26) · 24 CFR 206.125(a)(2), Acquisition and sale of the property (checked 2026-09-26) · CFPB, What is a reverse mortgage? (checked 2026-09-26) · Regulation B, Supplement I, comment 6(b)(2)-4 (checked 2026-09-26).
Show each claim on this page, what it depends on, and the date it was checked (13)
| What we say, and what it depends on | Source | Checked |
|---|---|---|
| Zach places reverse mortgages. | Confirmed by Zach, Sept 2026 | 2026-09-26 |
| HUD’s HECM page says the federally insured reverse mortgage is the Home Equity Conversion Mortgage, available through FHA-approved lenders, that “HECM borrowers may reside in their homes indefinitely as long as property taxes and homeowner’s insurance are kept current,” and that a counselor can be found through the HECM Counselor Roster. | HUD, FHA Reverse Mortgages (HECM) for Seniors | 2026-09-26 |
| 24 CFR 206.33: “The youngest borrower shall be 62 years of age or older at the time of loan closing.” | 24 CFR 206.33, Age of borrower | 2026-09-26 |
| 24 CFR 206.39(a): “The property must be the principal residence of each borrower, and if applicable, Eligible Non-Borrowing Spouse, at closing.” | 24 CFR 206.39, Principal residence | 2026-09-26 |
| 24 CFR 206.41(a): “The borrower, any Eligible or Ineligible Non-Borrowing Spouse, and any non-borrowing owner must receive counseling,” and the lender must give the borrower a list of HUD-approved HECM counselors at the initial contact. | 24 CFR 206.41, Counseling | 2026-09-26 |
| 24 CFR 206.27(b)(5) and (6): “The borrower must keep the property in good repair.” and “The borrower must provide for the payment of property charges in accordance with § 206.205.” | 24 CFR 206.27(b), Mortgage provisions | 2026-09-26 |
| 24 CFR 206.27(b)(8): “The borrower shall have no personal liability for payment of the outstanding loan balance. The mortgagee shall enforce the debt only through sale of the property. The mortgagee shall not be permitted to obtain a deficiency judgment against the borrower if the mortgage is foreclosed.” | 24 CFR 206.27(b)(8) | 2026-09-26 |
| 24 CFR 206.27(c): the loan balance becomes due and payable in full if a borrower dies and the property is not the principal residence of at least one surviving borrower (with a deferral for an eligible non-borrowing spouse), or if “the property ceases to be the principal residence of a borrower for reasons other than death and the property is not the principal residence of at least one other borrower,” or if “for a period of longer than 12 consecutive months, a borrower fails to occupy the property because of physical or mental illness and the property is not the principal residence of at least one other borrower.” | 24 CFR 206.27(c), Date the mortgage becomes due and payable | 2026-09-26 |
| 24 CFR 206.125(a)(2): when the loan is due and payable the lender must notify the borrower, eligible non-borrowing spouse, estate and heirs, and give them time to pay the outstanding loan balance in full, sell the property for an amount set by HUD through notice, or provide a deed in lieu of foreclosure. | 24 CFR 206.125(a)(2), Acquisition and sale of the property | 2026-09-26 |
| The CFPB says: “A Home Equity Conversion Mortgage (HECM), the most common type of reverse mortgage, is a special type of home loan only for homeowners who are 62 and older.” It adds: “The loan is repaid when the borrower no longer lives in the home,” and “With a reverse mortgage loan, homeowners are required to pay property taxes and homeowners insurance, use the property as their principal residence, and keep their house in good condition.” | CFPB, What is a reverse mortgage? | 2026-09-26 |
| The CFPB says: “Unlike a traditional mortgage, with a reverse mortgage loan, borrowers don’t make monthly mortgage payments.” It adds: “With a reverse mortgage loan, the amount the homeowner owes to the lender goes up–not down–over time. This is because interest and fees are added to the loan balance each month. As your loan balance increases, your home equity decreases.” And: “The homeowners or their heirs will eventually have to pay back the loan, usually by selling the home.” | CFPB, What is a reverse mortgage? | 2026-09-26 |
| Official interpretation of Regulation B, comment 6(b)(2)-4: “A reverse mortgage program that requires borrowers to be age 62 or older is permissible under § 1002.6(b)(2)(iv).” | Regulation B, Supplement I, comment 6(b)(2)-4 | 2026-09-26 |
| Zach places loans that count Social Security as qualifying income. | Confirmed by Zach, Sept 2026 | 2026-09-26 |
Written for and accountable to: Zach von der Linden, Mortgage broker and Branch Manager, West Capital Lending.
Last updated 2026-10-17.
Verify him: NMLS Consumer Access, ID 1652805 · 66 reviews on Experience.com.
Sources for product claims are listed on this page, with the date each was checked.
Two ways to take the next step
No credit pull happens from a conversation. The options check is a soft credit pull with no impact on your credit score for the first look. Text Zach first so he can review your situation. The online check covers one HELOC program, not every option he may be able to arrange. Texts go to Zach's cell.