Can I lose my home with a reverse mortgage?

You retain ownership of your home as long as you live in it, pay property taxes, maintain homeowner's insurance, and keep the home in reasonable condition. The loan only becomes due when you sell, move out, or pass away.

How much can I borrow with a reverse mortgage?

The amount depends on your age, the value of your home, current interest rates, and the FHA lending limit. Your reverse mortgage specialist will calculate the exact amount available to you.

What happens to the reverse mortgage when I pass away?

Your heirs have the option to repay the loan and keep the home, or sell the home and keep any remaining equity. The loan can never exceed the home's value, so heirs are never responsible for any shortfall.

How does a reverse mortgage affect my estate plan?

A reverse mortgage reduces the equity in your home over time. If you plan to leave the home to heirs, this should be factored into your estate plan. We coordinate with your estate planning team to make sure everything aligns.

How does a reverse mortgage work in Arizona?

A reverse mortgage lets Arizona homeowners aged 62 or older convert part of their home equity into cash without selling the home or making monthly mortgage payments. The most common type is a Home Equity Conversion Mortgage (HECM), which is insured by the Federal Housing Administration. You can receive funds as a lump sum, monthly payments, a line of credit, or a combination. The loan does not need to be repaid until you sell the home, move out permanently, or pass away. At that point, the loan balance (including accumulated interest) is repaid from the proceeds of selling the home. If the home sells for more than the loan balance, the remaining equity goes to you or your heirs. If it sells for less, FHA insurance covers the difference and your heirs owe nothing beyond the home's value. In Arizona, reverse mortgages are non-recourse loans, meaning the lender can only collect from the home itself, not from your other assets or your family. However, a reverse mortgage affects your estate plan. If your home is in a living trust, the trust may need to be structured so the borrower remains eligible. Property taxes, homeowner's insurance, and maintenance remain your responsibility. Falling behind on those obligations can trigger a default. Before pursuing a reverse mortgage, it is important to understand how it interacts with your trust, your beneficiaries' expectations, and your overall retirement income strategy.

Can I use a HELOC in retirement without affecting my estate plan?

A Home Equity Line of Credit (HELOC) lets you borrow against your home's equity for expenses like home improvements, medical bills, or supplementing retirement income. If your home is held in a living trust, most Arizona lenders will work with you, but the process has a few extra steps. Some lenders require the home to be temporarily removed from the trust for closing, then transferred back afterward. Others will lend directly to the trust as long as the trust document meets their requirements. Either way, the key concern is making sure the property ends up back in the trust after the HELOC is finalized. If it does not, the home could be exposed to probate. A HELOC also creates a lien on the property, which reduces the net equity available to your beneficiaries. If you draw $100,000 on a HELOC and pass away before repaying it, that balance must be paid off before your heirs receive the remaining equity. Before opening a HELOC, review the terms with your estate planning advisor to make sure the property stays properly titled in your trust and your beneficiaries understand how the line of credit affects their inheritance.

Access your home equity in retirement

Reverse Mortgages

Q: Does RJP originate reverse mortgage loans?

No. RJP does not originate or service mortgage loans of any kind. We refer clients to licensed reverse mortgage specialists we trust and coordinate the process with your financial and estate plan.

For homeowners 62 and older, a reverse mortgage lets you access your home equity without monthly mortgage payments. The loan is repaid when you sell the home or pass away.

Call (480) 346-3570

The Equity in Your Home Is Real Money. You Should Be Able to Use It

Many Arizona homeowners sit on hundreds of thousands of dollars in home equity but have no way to access it without selling. A Home Equity Conversion Mortgage, commonly called a reverse mortgage, lets homeowners 62 and older convert part of that equity into cash without monthly mortgage payments. You stay in the home, the title stays in your name, and the loan is repaid when the last borrower sells, moves out, or passes away.

A reverse mortgage is a powerful tool. It is also not right for everyone. The right answer depends on equity, expenses, heirs, and the rest of your retirement plan.

How RJP Approaches the Decision

RJP does not originate reverse mortgage loans. We refer clients to licensed reverse mortgage specialists we trust, and we coordinate their work with your broader financial plan. Before recommending one, we look at the full picture together.

Equity and cash-flow review, mapping current equity against monthly expenses and other income sources
Heir and legacy alignment, talking through what passing the home to children would look like before any loan is placed
Payout structure, comparing lump sum, monthly payments, and standby line of credit against the goal
Plan integration, coordinating with your trust, your tax advisor, and your existing accounts so the move fits the rest of the plan
Specialist handoff, introducing you to a vetted HECM specialist who handles the FHA-insured loan itself

Why It Matters

Used well, a reverse mortgage can supplement income, eliminate an existing mortgage payment, cover healthcare costs, or sit unused as a financial safety net. Used carelessly, it can complicate an estate or shrink an inheritance you intended to leave. We help you make the decision with the full picture in front of you.

Schedule a Free Consultation

Many Arizona retirees sit on hundreds of thousands of dollars in home equity but have no way to access it without selling. A reverse mortgage changes that equation entirely.

Is a Reverse Mortgage Right for You?

A reverse mortgage is not for everyone. But for the right homeowner, it can be a valuable part of a retirement plan.

Retirees with Significant Home Equity. If your home is your largest asset and you need additional income, a reverse mortgage lets you access that value without selling.
Homeowners with an Existing Mortgage. A reverse mortgage can pay off your current mortgage, eliminating your monthly payment and freeing up cash flow.
People Who Want to Age in Place. If staying in your home is important to you, a reverse mortgage provides income without requiring you to move.
Families Needing a Financial Safety Net. A reverse mortgage line of credit grows over time and can serve as an emergency fund or supplement to other income sources.

Reverse Mortgages

The Equity in Your Home Is Real Money. You Should Be Able to Use It

How RJP Approaches the Decision

Why It Matters

Is a Reverse Mortgage Right for You?

Take the Next Step