HUD Counseling
They Reduce the Burden on Adult Children
Financial planners see families struggle when:
- Parents need financial support
- Savings run out
- Assisted living costs are overwhelming
- Medical bills become unpredictable
A reverse mortgage allows parents to stay financially independent, reducing pressure on adult children.
This preserves family harmony and long-term security.
You must complete a HUD-approved counseling session
This is required for your protection and ensures:
- You understand the loan
- You know your options
- You can ask questions independently
Counseling can be done by phone or Zoom.
Eligibility Checklist for Jumbo Reverse Mortgages
Jumbo (proprietary) reverse mortgages may allow:
- Younger age limits (55+)
- Higher property values
- Larger loan amounts
- More flexible credit reviews
Many Long Beach homeowners in high-value neighborhoods qualify for jumbo options when FHA limits are too low.
Frequently Asked Questions (FAQ)
Clear, honest answers to the questions Long Beach seniors and their families ask most
Over the years, I’ve answered thousands of questions from homeowners, adult children, financial planners, and families considering a reverse mortgage. These are the questions that come up the most — with simple, straightforward answers you can trust.
At Long Beach Reverse Mortgage, transparency is the foundation of every conversation, and this FAQ section makes the entire reverse mortgage process feel easy and stress-free.
You can move at any time.
When you leave the home permanently:
- The loan becomes due
- You or your heirs sell the house or refinance
- Any remaining equity is yours
There is no penalty for selling or moving.
Your heirs will have up to 12 months to:
- Sell the home
- Refinance it
- Or walk away
During that time, no payments are due and no one is forced out.
Yes. HUD counseling is required to ensure that you fully understand the reverse mortgage process. The session can be conducted via phone or Zoom, and it gives you the opportunity to ask questions and gain a clear understanding of your options.