Debbie is just above and beyond awesome! She was really looking out for us!!
Nathan J B · Minneapolis, MNVerified customer
Reverse mortgages, minus the myths
Stay home. Breathe easier.
A Home Equity Conversion Mortgage (HECM) lets homeowners 62 and better use part of their home's equity — while keeping the title, staying in the home, and making no required monthly mortgage payment. Debbie will give you the honest version: what it does, what it costs, and whether it fits.
My sister says reverse mortgages are a scam. Is she right?
She's right to be careful — and wrong about today's HECM. It's FHA-insured, counseling is required by law, and you keep your title. Let me show you how the protections actually work.
Why this is personal
Debbie watched a HECM keep her own mom home.
Debbie grew up around this business — her mother was a mortgage lender. Years later, after Debbie's father passed away and the household income dropped sharply, it was a Home Equity Conversion Mortgage that let her mother stay in her home for years, on her own terms.
Her dedication started even earlier, with a 90-year-old client who had outlived her savings but was determined to stay in her house. Seeing what the program did for her — and later, for her own family — is why Debbie completed Fairway's reverse mortgage training and made HECM guidance a cornerstone of her practice.
That's the lens she brings to every conversation: would I recommend this to my own mother?If the answer is no, she'll say so.
Myth vs. truth
Six things people get wrong about reverse mortgages
The bank takes ownership of my home.
The truth: You keep the title and you keep ownership. A reverse mortgage is a loan against your equity — not a sale. When the last borrower leaves the home permanently, the loan is repaid, and you or your heirs keep any remaining equity.
My kids will inherit my debt.
The truth: A HECM is a non-recourse loan, which means neither you nor your heirs can owe more than the home is worth when it is sold to repay the loan. Heirs can also choose to keep the home by paying off the loan balance.
I can be forced out of my home.
The truth: As long as you live in the home as your principal residence, keep up property taxes and homeowners insurance, and maintain the property, you cannot be forced out — the loan does not come due.
Reverse mortgages are only for people who are desperate.
The truth: Financial planners increasingly view HECMs as a retirement planning tool — a way to create a standby line of credit, delay drawing Social Security, or protect investments during down markets. It is a strategy, not a last resort.
There are no protections — it’s the Wild West.
The truth: HECMs are FHA-insured and heavily regulated. Every borrower completes independent HUD-approved counseling before applying, lending limits are federally set, and non-borrowing spouse protections exist. The guardrails are real.
I won’t qualify because I still have a mortgage.
The truth: Many reverse mortgage borrowers still have a balance on their current mortgage. The reverse mortgage pays it off first — eliminating that monthly payment — and any remaining funds go to you.
Step by step
How the process actually works
Six clear phases, no surprises — with Debbie and Fairway's dedicated reverse team beside you for all of them.
- 1
The conversation
A relaxed, no-pressure talk with Debbie about your home, your income picture, and your goals. Sometimes the honest answer is that a HECM isn’t the right fit — and she’ll tell you that, too.
- 2
HUD-approved counseling
You meet independently with a HUD-approved counselor who makes sure you understand the loan. This is required for every borrower, and it protects you.
- 3
Application
Debbie prepares your application and walks you (and your family, if you’d like them involved) through every document.
- 4
Appraisal & processing
An appraisal establishes your home’s value, which — together with your age and current rates — determines how much equity you can access.
- 5
Underwriting & approval
Fairway’s dedicated reverse team reviews everything. A financial assessment confirms you can sustain taxes, insurance, and upkeep.
- 6
Closing & funding
Choose how you receive funds: lump sum, monthly advances, a line of credit, or a combination. After a 3-day right of rescission, funds are available.
Built-in protections
The guardrails are real
🛡️ FHA-insured
HECMs are insured by the Federal Housing Administration, with federally regulated lending limits and borrower protections.
🎓 Required counseling
Every borrower completes an independent session with a HUD-approved counselor before applying. Nobody skips it — by design.
⚖️ Non-recourse
You and your heirs can never owe more than the home is worth when it's sold to repay the loan. The shortfall risk isn't yours.
Can my daughter join our first meeting? I want another set of ears.
Please bring her! I love when family is involved — this decision should be comfortable for everyone at the table. ☕
Real clients, real reviews
Five stars.4.97 across 130 verified reviews
Highlights from verified client reviews on Experience.com — every buyer real.
She has a great team and communicates extremely well.
Brandi N · Minnetonka, MNVerified customer
Debbie, you and your team give outstanding customer service! You have gone out of your way to help me find homeowners insurance and watched the rates fluctuate with me and gave me confidence to lock in at the right time.
Cynthia G · Saint Joseph, MNVerified customer
Debbie made the experience great. Have used her services for numerous homes purchased in the past.
Andrew N · Minnetonka, MNRepeat client
It was the easiest process. So helpful through the whole experience. We also were told from the county that they have never worked with a better lender.
Evan D · Alexandria, MNVerified customer
Responsive and friendly.
Chelse B · Saint Cloud, MNVerified customer
Debbie helped us get our credit scores to a place where we could buy our dream house! And for that I will forever be thankful.
Addison R · Sartell, MNVerified customer
The process was very smooth 👌
Travis S · Cape Coral, FLVerified customer
Seamless, helpful, and always responsive to all requests.
Amanda M · Cape Coral, FLVerified customer
Quick feedback with a friendly team. Everything came together as planned with no surprises.
Nathan A · Vadnais Heights, MNVerified customer
Debbie is just above and beyond awesome! She was really looking out for us!!
Nathan J B · Minneapolis, MNVerified customer
She has a great team and communicates extremely well.
Brandi N · Minnetonka, MNVerified customer
Debbie, you and your team give outstanding customer service! You have gone out of your way to help me find homeowners insurance and watched the rates fluctuate with me and gave me confidence to lock in at the right time.
Cynthia G · Saint Joseph, MNVerified customer
Debbie made the experience great. Have used her services for numerous homes purchased in the past.
Andrew N · Minnetonka, MNRepeat client
It was the easiest process. So helpful through the whole experience. We also were told from the county that they have never worked with a better lender.
Evan D · Alexandria, MNVerified customer
Responsive and friendly.
Chelse B · Saint Cloud, MNVerified customer
Debbie helped us get our credit scores to a place where we could buy our dream house! And for that I will forever be thankful.
Addison R · Sartell, MNVerified customer
The process was very smooth 👌
Travis S · Cape Coral, FLVerified customer
Seamless, helpful, and always responsive to all requests.
Amanda M · Cape Coral, FLVerified customer
Quick feedback with a friendly team. Everything came together as planned with no surprises.
Nathan A · Vadnais Heights, MNVerified customer
Reverse mortgage FAQ
The questions everyone asks
How much money can I get from a reverse mortgage?
It depends on your age (or the age of the youngest borrower), your home’s appraised value, current interest rates, and any existing mortgage balance that must be paid off first. Older borrowers with more equity can generally access more. Debbie can run your specific numbers in minutes — with no obligation.
What are the costs of a reverse mortgage?
HECMs include FHA mortgage insurance premiums, origination fees, and standard closing costs. Most costs can be financed into the loan rather than paid out of pocket. Debbie reviews every line item with you before anything is signed.
Do I still pay property taxes and insurance?
Yes. Staying current on property taxes, homeowners insurance, and any HOA dues — and keeping the home in good repair — are the ongoing obligations of the loan. A portion of funds can be set aside to help cover them if needed.
What happens when I pass away or move?
The loan becomes due when the last borrower permanently leaves the home. Your heirs typically have options: sell the home and keep remaining equity, refinance to keep the home, or walk away with no further obligation thanks to the non-recourse protection.
Can I use a reverse mortgage to buy a home?
Yes — the HECM for Purchase program lets buyers 62+ purchase a new primary residence using a reverse mortgage, combining a down payment from savings or home-sale proceeds with HECM funds, with no required monthly mortgage payment afterward.
Reverse mortgage borrowers are required to obtain an eligibility certificate by receiving counseling sessions with a HUD-approved agency. The youngest borrower must be at least 62 years old. Monthly reverse mortgage advances may affect eligibility for some other programs. The borrower must maintain the home as their principal residence and remain current on property taxes, homeowners insurance, and any homeowners association fees, and keep the property in good repair. This material is not from HUD or FHA and has not been approved by HUD or any government agency.
Wondering if a reverse mortgage fits your retirement?
One honest conversation is all it takes to find out. No pressure, no obligation — and Debbie is happy to include your family in the discussion.