{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Mortgage Wise with Mike Wise","title":"Mortgage Wise: How Reverse Mortgages Really Work (Safety, Strategy and Retirement Cash Flow)","html":"","width":"100%","height":180,"duration":3144,"description":"On this episode of Mortgage Wise with Mike Wise, Mike sits down with Sean Kirksey, Vice President of Reverse Mortgage at CMG, to break down everything you need to know about reverse mortgages.  They explain who reverse mortgages are really for (hint: not just “desperate” borrowers), how seniors can eliminate their monthly mortgage payment, and how to safely tap home equity for retirement income, healthcare costs, and even to buy a new home with no required mortgage payment.  Sean also walks through powerful strategies using reverse mortgage lines of credit, how they grow over time, and why they can be a key piece of a modern retirement plan alongside Social Security and investments. If you or a family member is 55–62+ and sitting on a lot of home equity, this episode will give you a clear, jargon-free understanding of your options.  What you’ll learn in this episode:  – What a reverse mortgage actually is and how it works for seniors who want to stop making mortgage payments  – How homeowners can qualify even when they’re mostly on Social Security  – Using a reverse mortgage to supplement retirement income and cover rising healthcare costs  – Why reverse mortgages are non-recourse and what that means for your heirs  – How reverse mortgage lines of credit grow over time and can be used strategically with your investment portfolio  – Real-life examples of eliminating a mortgage payment and improving monthly cash flow  – How to buy your next home (even move states) using a reverse mortgage for purchase  – What really happens to the house when the homeowner passes away  1:02 – What is a reverse mortgage and who is it designed for?  2:13 – Turning home equity into liquid funds without giving up ownership  3:10 – Structuring reverse mortgages for supplemental retirement income  4:39 – How people on Social Security can still qualify  5:35 – Using available line-of-credit equity as qualifying income  6:44 – Reverse mortgages are not “loans of last resort” and who really...","thumbnail_url":"https://img.transistorcdn.com/5UPkSvv9JEMwDH0oWaEv_UGvGgB29cjS0PuAovSiQIA/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS85MjYy/OWZkNjNjNTUyZWQ5/MzYxZmM3ZTJlNTcz/ODk5My5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}