Trusted Reverse Mortgage Educator.
Understand Reverse Mortgages Before You Make Any Decision
Whether you’re exploring options for yourself or a loved one, this site gives you honest, clear, jargon-free education on reverse mortgages — with no sales pressure, ever.
Education First — Always
Stan's philosophy: you should fully understand every aspect of a reverse mortgage before making any decision. This site exists to teach, not to sell.
What You'll Learn Here
A complete reverse mortgage education in one place
What a reverse mortgage actually is
Plain-language definition, history, and how it differs from a traditional mortgage
Eligibility requirements & rules
Age, property type, financial obligations, and counseling requirements
Programs and ways to use them
Compare HECM and proprietary reverse mortgage programs, then explore options for an existing home, purchasing a home, or refinancing an existing reverse mortgage.
Common myths vs. actual facts
The most misunderstood aspects, clarified with evidence
- Ready to go deeper?
*No required monthly principal-and-interest payments while applicable loan obligations are met. Borrowers remain responsible for applicable property taxes, homeowners insurance, other property charges, maintenance and occupancy requirements. The loan balance generally grows over time as interest and applicable fees accrue.
Stan Goff
Reverse Mortgage Specialist & Educator
NMLS Licensed
40+ Years
HECM & Proprietary Education
About Stan
Meet Stan Goff
With over 40 years of experience in housing and mortgage finance, Stan Goff focuses on helping homeowners understand their options — especially reverse mortgages.
His philosophy is simple: education first, no pressure, and clear answers. Many clients come to Stan after being told they do not qualify for traditional financing, only to discover there may still be options available.
Start Here
Your Complete Reverse Mortgage Education Resource
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What Is a Reverse Mortgage?
A loan that allows eligible homeowners to borrow against home equity. Reverse mortgages include FHA-insured HECMs and private proprietary programs with different requirements and features.
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Eligibility Requirements
Understand how age, property eligibility, financial obligations and counseling requirements differ between HECM and proprietary reverse mortgage programs.
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Reverse Mortgage Programs Compared
HECM and proprietary reverse mortgages can work differently. Compare the important differences in eligibility, home value, available funds, costs and family protections.
Compare HECM & Proprietary
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Protections & Safeguards
Learn about HECM safeguards, including FHA insurance and HUD-approved counseling, and the protections and requirements to review for proprietary reverse mortgage programs.
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Common Myths Debunked
Who owns the home? What happens to heirs? Do credit, age or an existing mortgage rule you out? Explore 12 common myths, with clear explanations of HECM and proprietary differences.
Explore the 12 Myths →
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Video Explanations by Stan
Stan explains Reverse Mortgage concepts in plain, conversational language through short videos. Watch at your own pace — no obligation or sign-up required.
How It Works
A Step-by-Step Guide to How a Reverse Mortgage Works
Key Terms to Understand
Principal Limit
For a HECM, the principal limit is calculated using applicable age, interest-rate and maximum-claim-amount factors. Proprietary borrowing amounts follow the selected program’s guidelines.
Non-Recourse Loan
HECMs include non-recourse protections under FHA rules. Review the selected proprietary program’s loan documents for its repayment protections and requirements.
HECM mortgage insurance premium (MIP)
FHA mortgage insurance premiums apply to HECMs.
HECM life expectancy set-aside (LESA)
A HECM may require proceeds to be set aside for specified property charges.
Title Ownership
You remain on the title of your home throughout the loan — the lender does not own your home.
- HECMs include non-recourse protections under FHA rules. Review the selected proprietary program’s loan documents for its repayment protections and requirements.
Stan's Approach to Education
Stan has spent 40+ years explaining Reverse Mortgage Programs in plain English. His philosophy is that no one should ever sign a document they don't fully understand.
1
Learn & Explore Your Options
Before anything else, you learn. There's no application, no commitment, no obligation. This stage is purely educational — you ask questions, we answer them completely and honestly. Many people spend weeks at this stage, and that's encouraged.
📚 No application. No commitment.
2
Complete Applicable Counseling
HECMs generally require independent HUD-approved counseling; qualifying HECM refinances may meet counseling-waiver conditions. Proprietary counseling requirements vary by program and applicable law.
HECM counseling requirements apply; qualifying refinance exceptions may apply. Counseling fees may vary.
3
Property Appraisal & Underwriting
The property is appraised and reviewed under the selected program’s standards. FHA requirements apply to HECMs; proprietary programs follow their applicable lender and program requirements.
🔍 FHA requirements apply to HECMs; proprietary programs follow their applicable lender and program requirements.
4
Closing & Loan Disbursement
Available disbursement options depend on the selected program and rate structure. Existing liens that must be satisfied are paid at closing, and any remaining proceeds are distributed under the loan terms.
💰 Funds are tax-free proceeds, not income.
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Ongoing Obligations (The Borrower's Responsibilities)
No required monthly principal-and-interest payments while applicable loan obligations are met. Borrowers remain responsible for applicable property taxes, homeowners insurance, other property charges, maintenance and occupancy requirements. The loan balance generally grows over time as interest and applicable fees accrue. Failure to meet loan obligations can cause the loan to become due and payable.
⚠️ Failure to meet loan obligations can cause the loan to become due and payable.
Educational Videos
Watch Stan Explain Reverse Mortgage Topics In Plain English
Reverse Mortgage Programs and Homeowner Use Cases.
Reverse Mortgage Programs and Homeowner Use Cases.
HECM and proprietary programs may serve different needs. Explore using a reverse mortgage on an existing home, buying a home, or refinancing an existing reverse mortgage.
HECM — FHA-Insured Program
Reverse Mortgage Options for Your Existing Home.
Eligible homeowners may use a HECM or proprietary reverse mortgage to access home equity. HECMs are FHA-insured and follow HUD requirements. Proprietary programs have separate eligibility, costs and features.
No required monthly principal-and-interest payments while applicable loan obligations are met. Borrowers remain responsible for applicable property taxes, homeowners insurance, other property charges, maintenance and occupancy requirements. The loan balance generally grows over time as interest and applicable fees accrue.
- Available disbursement options vary by program and rate structure.
- An eligible adjustable-rate HECM line of credit has a contractual growth feature. Proprietary line-of-credit availability and features vary by program.
- No required monthly principal-and-interest payments*
- HECMs include non-recourse protections under FHA rules. Review the selected proprietary program’s loan documents for its repayment protections and requirements.
- Proceeds are not considered taxable income by the IRS
HECM Snapshot.
Reverse mortgages include FHA-insured Home Equity Conversion Mortgages (HECMs) and private proprietary reverse mortgage programs. Proprietary programs may offer additional options for higher-value homes and borrowers or properties that do not fit standard HECM parameters. Eligibility, age requirements, available proceeds, property requirements and product features vary by lender and program.
Minimum Age
Borrowers must meet HECM age requirements.
Property Type
Primary residence only
Counseling Required
HUD-approved counseling; qualifying refinance exceptions may apply.
Monthly Payments
No required monthly principal-and-interest payments while applicable loan obligations are met.
FHA Insurance
Yes.
Regulated by
HUD / FHA (federal)
Homeownership
Borrower retains title
Heirs' Options
Sell home or refinance to repay
- Want to understand if this applies to your situation?
Buy a New Home
Reverse Mortgage for Purchase (H4P)
A reverse mortgage may help eligible buyers purchase a primary residence by combining approved funds with loan proceeds. HECM for Purchase is the FHA-insured option; proprietary purchase options have separate guidelines and protections.
No required monthly principal-and-interest payments while applicable loan obligations are met. Borrowers remain responsible for applicable property taxes, homeowners insurance, other property charges, maintenance and occupancy requirements. The loan balance generally grows over time as interest and applicable fees accrue.
- No required monthly principal-and-interest payments*
- Preserve savings/assets that would otherwise go to the purchase
- Property eligibility, required buyer funds, acceptable funding sources and counseling requirements depend on the selected program.
- Property eligibility, required buyer funds, acceptable funding sources and counseling requirements depend on the selected program.
- HECM for Purchase is the FHA-insured option; proprietary purchase options have separate guidelines and protections.
Program Snapshot
Minimum Age
Eligibility, age requirements, available proceeds, property requirements and product features vary by lender and program.
Property Type
Buying a new primary residence
Down Payment Source
Property eligibility, required buyer funds, acceptable funding sources and counseling requirements depend on the selected program.
Monthly Payments
No required monthly principal-and-interest payments while applicable loan obligations are met.
Eligible Properties
Property eligibility, required buyer funds, acceptable funding sources and counseling requirements depend on the selected program.
Seller Concessions
Seller and other interested-party contributions are subject to applicable program, lender and transaction limits.
Counseling Required
Property eligibility, required buyer funds, acceptable funding sources and counseling requirements depend on the selected program.
- Thinking about moving in retirement? This may be worth understanding.
Existing Reverse Mortgage Holders
Reverse Mortgage Refinance
If you already have a reverse mortgage, you may be able to refinance it into a new Reverse Mortgage . This may be worth exploring if your home has significantly increased in value or if interest rates have dropped since you obtained your original loan.
A Reverse Mortgage refinance can increase your available principal limit, potentially giving you access to more equity. However, it also involves new closing costs, and should only be done when the financial benefit clearly outweighs the costs.
- May unlock additional equity if home value has risen
- Refinancing may allow a spouse to participate if the new program’s requirements are met.
- Potentially access better interest rate terms
- FHA insurance applies to a new HECM; proprietary protections follow the selected program’s terms.
- New closing costs apply — benefit must exceed cost
Key Considerations
Who It's For
Existing Reverse Mortgage borrowers
Primary Benefit
Increased principal limit
Minimum Benefit Rule
Applicable program benefit tests and lender requirements must be met.
Closing Costs
New costs apply
Counseling Required
Requirements and any available waiver depend on the new program and transaction.
When It Makes Sense
Significant home value increase
- Already have a Reverse Mortgage? A quick review can show if refinancing makes sense.
Not Sure If a Reverse Mortgage Is Right for You?
How It Works
Reverse Mortgage Solutions Designed For Seniors
Specialized Reverse Mortgage Programs for buying, refinancing, and unique property types. Serving homeowners across multiple states.
Reverse Mortgage for Purchase
Explore purchasing a primary residence with a HECM or proprietary reverse mortgage, subject to eligibility and required buyer funds.
No required monthly principal-and-interest payments while applicable loan obligations are met. Borrowers remain responsible for applicable property taxes, homeowners insurance, other property charges, maintenance and occupancy requirements. The loan balance generally grows over time as interest and applicable fees accrue.
Reverse Mortgage Refinance
Explore replacing an existing mortgage with a reverse mortgage, subject to eligibility, costs and ongoing loan obligations.
Reverse Mortgage for Manufactured Homes
Manufactured, modular and other property eligibility depends on the selected reverse mortgage program, documentation and lender review. FHA property requirements apply to HECMs.
EXPERTISE & TRUST
Decades of Experience and Financial Wisdom
Empowering Seniors with Knowledge, Not Sales
Our mission is to provide you with the tools to understand your reverse mortgage options and determine what is best for your future.
Focused on Helping Seniors Understand Their Options
What Clients Say
Ask a Question.
There’s no obligation to proceed with anything. Whether you have one question or one hundred, Stan will give you a complete, honest answer — on your timeline, at your pace.
Direct Phone
205-534-9889
Direct Email
stan@goffhousingsolutions.com
Stan's Promise to You
No pressure. No scripts. No obligation. Every conversation is for your education — not Stan's commission. If this program isn't right for you, he'll say so directly.