The Danger of Mandatory Mortgage Payments in Retirement - Skip to content

The Danger of Mandatory Mortgage Payments in Retirement




While the media and regulators have scrutinized if reverse mortgages are suitable for older homeowners we see little if any interest in loan officers who promoted cash-out refinances or home equity lines of credit (HELOCs) to homeowners on a fixed income with little consideration of the increased financial burden of monthly payments or a payment shock when a HELOC resets.


A recent CBS News article advises before tapping into home equity seniors should consider these three questions: how much equity is available, how payment will be covered each month, and alternative sources of funds.


To the credit of CBS, their second question is one of the most consequential considerations


Read More


Editor in Chief:
As a prominent commentator and Editor in Chief at, Shannon Hicks has played a pivotal role in reshaping the conversation around reverse mortgages. His unique perspectives and deep understanding of the industry have not only educated countless readers but has also contributed to introducing practical strategies utilizing housing wealth with a reverse mortgage.
Shannon’s journey into the world of reverse mortgages began in 2002 as an originator and his prior work in the financial services industry. Shannon has been covering reverse mortgage news stories since 2008 when he launched the podcast HECMWorld Weekly. Later, in 2010 he began producing the weekly video series The Industry Leader Update and Friday’s Food for Thought.
Readers wishing to submit stories or interview requests can reach our team at:

Leave a Comment


  1. Good information. The senior population does not hear enough of the benefits of the reverse mortgage program. That is the problem.

  2. Well done.

    Happy Holidays to you and all your staff @ Reverse Focus.

    • Thank you, Tom. And to you and yours as well this holiday season!

  3. Great message Shannon. I would like to throw something else out there that does concern me and I have been doing this almost 20 years. I often work with clients in a lower income and property values. These folks have definitely been shut out of the normal reverse mortgage scenario. They need the reverse as much as those folks living in the $500K and higher value properties. Is there going to be any advantages or even special compensating factors that might be of benefit to these folks. They have been hard workers, most have good credit and their needs are just a great, especially loosing a spouse or medial reasons. There is just no way the numbers work for them.
    Thanks and any comments are greatly appreciated.

    • Sandy- an excellent point about those homeowners who can fall between the cracks.

Add a Comment

Your email address will not be published. Required fields are marked *


Recent Stories


Subscribe to join our World

Get the latest reverse mortgage news delivered straight to your inbox.