Reverse Mortgages Explained: Myths, Fees & Facts Real Estate Agents Must Know | Rethink Real Estate S4E64

In this insightful episode of Rethink Real Estate, host Ben Brady sits down with Laura Phillips, Reverse Mortgage Specialist with MAC5 Mortgage Inc., to tackle one of the most misunderstood financial tools for seniors—reverse mortgages. With licenses across Colorado, Arizona, California, and Florida, Laura brings clarity to an industry that has long carried a reputation for confusion and skepticism.Together, Ben and Laura dive into the history of reverse mortgages, separating fact from myth, and explain how today’s product is far safer and more regulated than in decades past. From addressing legacy concerns for families to unpacking the real costs and fees, this conversation highlights how reverse mortgages can help seniors downsize, access equity, or simply create financial breathing room in retirement.You’ll hear real-world examples of how homeowners have used reverse-for-purchase loans to relocate and still preserve cash reserves, the truth about compounding interest and non-recourse protections, and how agents can use this knowledge to better guide their clients. Whether you’re an agent navigating conversations with older clients, or a family member trying to help parents plan smarter, this episode provides the clarity you’ve been waiting for.⏱️ Timestamps & Key Topics[00:00:00] – Why revisit reverse mortgages? Community questions & concerns[00:02:34] – The early problems: predatory lending and “grandma on the street”[00:05:01] – Safeguards today: spousal protections, financial assessments & HUD regulation[00:07:25] – The big question: what if the property ends up underwater?[00:10:30] – Legacy vs. liquidity: balancing kids’ inheritance with parents’ comfort[00:13:01] – How much equity can you access? (40–70% explained)[00:16:42] – Adjustable rates, credit lines & why interest accrues differently[00:18:51] – Case study: downsizing with a reverse-for-purchase loan[00:23:25] – Why more seniors should explore this option before saying “never”🔗 Related Resources Below:🌐 For more information on Harcourts Auctions our non-distressed auction platform feel free to visit https://www.harcourtsauctions.com🔗 Connect with Laura Phillips & MAC5 Mortgage Inc:https://www.youtube.com/@UCcKM36yrA62PorDUhQ1r7Gw https://lauraphillips.com/https://www.linkedin.com/in/laurawphillips/https://www.facebook.com/colorado.mortgage.brokerhttps://www.instagram.com/laurawphillips/🔗 Connect with Ben Brady and Harcourts Auctions: ⁣https://www.facebook.com/Benbradyharcourts⁣ ⁣https://www.linkedin.com/in/ben-brady-0b223517⁣ ⁣https://www.instagram.com/harcourtsauctions⁣ ⁣https://www.facebook.com/HarcourtsAuctions🎯 Subscribe for more insights, and don’t forget to comment with your thoughts on whether reverse mortgages are a smart option in today’s market.