Description
In this presentation, financial educator Cody Garrett, CFP®, speaks with reverse mortgage specialist Eric D. Miller about the often misunderstood world of reverse mortgages. The conversation dives deep into the mechanics, suitability, risks, and planning opportunities associated with Home Equity Conversion Mortgages (HECMs) and proprietary jumbo reverse mortgages. Designed specifically for financial planners, this session helps demystify reverse mortgages as a viable tool—not just a last resort—for retirement income planning, long-term care support, and intergenerational wealth strategy.
Learning Objectives
By the end of this program, participants will be able to:
Explain the differences between HECM and proprietary jumbo reverse mortgages, including eligibility requirements, lending limits, and federal protections.
Identify appropriate and inappropriate use cases for reverse mortgages, such as eliminating monthly mortgage payments, funding long-term care, or purchasing a second home.
Understand the key risks and client misconceptions, including accrued interest, costs, and the impact on heirs.
Evaluate the strategic value of reverse mortgages in retirement planning to reduce sequence of returns risk and preserve investment portfolios.
Compare reverse mortgages to alternatives like HELOCs, considering liquidity needs, qualification standards, and repayment obligations.
Navigate practical planning conversations with clients and their families about home equity, estate intentions, and aging in place.
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