Your questions.
Clear answers.

Yes. You retain title, subject to the mortgage lien. You must occupy the home as your principal residence, pay property taxes and insurance, and maintain it. Failure to meet obligations may lead to foreclosure.

HECM borrowers must be at least 62. Eligibility also depends on the property, mortgage debt, financial assessment and other program requirements. Independent HUD-approved counseling is required.

HECMs generally do not require monthly principal and interest payments. You remain responsible for taxes, insurance, maintenance and applicable property charges.

The loan generally becomes due when the home is sold, is no longer the borrower’s principal residence, or the last borrower dies, subject to eligible non-borrowing spouse protections. Failure to meet obligations may also make it due.

Proceeds depend on age, property value, interest rate, existing liens, costs and program limits. The calculator provides an approximate educational scenario. A lender’s review is needed for actual figures.

Yes. Joe encourages family members to participate so you can discuss your goals, responsibilities and the effect on your home and estate together.

The model interpolates factors between HUD’s published anchors for ages 65–85 and expected rates 5.5–8.5%. It applies the 2026 HECM cap and subtracts mortgage payoff and estimated financed fees. Set-asides and first-year draw limits are excluded. It is not a loan quote.

No. It is a loan secured by your home. Interest and fees generally increase the balance over time and reduce remaining equity. Compare the costs, obligations and alternatives before deciding.