Reverse Mortgage Radio

Bruce Simmons
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  • Education

Unlock the door to a financially free retirement with 'Reverse Mortgage Radio' – your go-to source for savvy financial insights in the world of reverse mortgages. Dive deep into the untapped potential of your home equity with industry experts, real-life success stories, and cutting-edge strategies that set us apart. Tune in to 'Reverse Mortgage Radio' and transform your golden years from uncertain to unbelievable. Hit subscribe and start redefining retirement on your terms today!

  1. Oct 27

    How I Found My Way to Reverse Mortgages -- and Why I Still Love This Work

    People sometimes ask how I ended up specializing in reverse mortgages. In this episode, I take you back to the choices that brought me to Colorado, my years in the Army, and the winding path through finance and traditional mortgage lending that led me to this work. I also share the moment I first looked into reverse mortgages. I was skeptical, too. I did my homework, learned how the program worked, and thought it was something I would consider for my own mother. More than two decades later, I still enjoy meeting with families, hearing their stories, and helping them understand what the numbers mean — including when a reverse mortgage may not be the right fit. This is a personal conversation about community, trust, and why education matters before any big financial decision.

    How I Found My Way to Reverse Mortgages -- and Why I Still Love This Work

  2. Oct 26

    Denver's September Numbers: Sales Down 18% and a Real Buyer's Market

    This week I'm joined in studio by a Denver-area realtor who's known around town as the Condo King, and we're not talking about reverse mortgages — we're talking about the market you're actually living in. Here's the headline: closed listings were down 18% year over year in September. That's 2,898 closings this September versus 3,523 a year ago. Pending listings were down 13%. Gross sales volume was down 17%. The median closed price slipped from $650,000 in August to $635,000 in September, and it's off about 2% from a year ago. And for the first time in more than twenty years, more people are leaving Colorado than moving in. The trend is not your friend right now — but that doesn't mean it's all bad news. It's very much a buyer's market, and sellers have tools they may not realize they have, including seller-funded buydowns that can pull a rate down significantly in year one. We also go through three pitfalls for buyers and three for sellers. Buyers: skipping pre-approval, believing the 20% down myth, and underestimating the hidden costs of ownership. Sellers: overpricing, neglecting repairs, and skipping staging and presentation. If you're thinking about buying, selling, or wondering whether to stay put for a while, this episode gives you the real numbers from the people in the trenches.

    Denver's September Numbers: Sales Down 18% and a Real Buyer's Market

  3. Oct 14

    The 3 Biggest Benefits of a Reverse Mortgage -- and the 3 Biggest Objections

    Today I'm doing something a little different. Instead of digging into one rule or feature, I'm going to take a step back and give you the big picture: the three biggest benefits of the FHA-insured reverse mortgage — the Home Equity Conversion Mortgage — and then the three objections I hear most often, along with what I think the honest answer is to each. Because here's the thing: most folks who could really benefit from a reverse mortgage never look into it. They hear something from a neighbor, or they saw a negative headline, and that was the end of it. My job on this show is not to sell you anything. It's to give you the facts so you can make an informed decision for yourself and your family. So I start with the three benefits: no required monthly mortgage payment, the FHA mortgage insurance that protects your heirs and guarantees your money, and the growing line of credit that financial planners get excited about. Then I take on the three objections head-on — the upfront closing costs, negative amortization, and the loan amounts — and I don't pretend those concerns are silly. They're fair questions and they deserve straight answers. If you've ever dismissed a reverse mortgage based on something you heard once, this is the episode to listen to with an open mind.

    The 3 Biggest Benefits of a Reverse Mortgage -- and the 3 Biggest Objections

  4. Oct 12

    The Headlines Are Scary -- But Higher Rates Can Work in Your Favor

    "Bond market bust."  "Global bond rout deepens."  "10-year Treasury yields rise to a 24-year high at 5.304." If you've had the news on this week at all, you've heard some version of this. And if you're retired or close to it, it probably made your stomach drop a little. So today I'm doing three things. First, I'll explain in plain English why this is happening. Second, what it means for reverse mortgages. And third, why some of my past clients are probably actually smiling about these headlines — believe it or not. Here's the part most people never hear: on an FHA-insured reverse mortgage, the portion of your line of credit you don't use grows at one-half percent MORE than the rate you're charged. At today's rates, that means the rule of 72 kicks in — your available line roughly doubles in about ten years. When rates go up, that line grows even faster. It is not interest income, and I'll explain exactly why that distinction matters. It's increased borrowing power. I also cover what high rates mean if you're just starting to look, why a proprietary reverse mortgage can sometimes get you more when the FHA numbers fall short, and the old saying that sums up my whole philosophy: when's the best time to plant a tree? Twenty years ago. When's the second best time? Right now. No obligation, no pressure. My job is simply to help you understand how this program works so you can make an informed decision.

    The Headlines Are Scary -- But Higher Rates Can Work in Your Favor

  5. Oct 1

    An HECM Is More Than a Loan: Three Strategies for Retirement Income, Care, and Taxes

    Last week I explained how interest rates work on a HECM. This week I want to take it a step further, because a HECM is not just a loan — in the right hands, it's a financial planning tool and a tax planning tool. So today I walk you through three strategies. The first two are financial planning strategies. The third is a tax planning strategy, and if you have a CPA or tax professional, I really want you to talk to them about it — especially if you're planning to move, because it works with the reverse mortgage for purchase program. I start with the engine behind all three: the growing line of credit. The part of the line you don't use grows every month at the same rate your loan balance grows — your interest rate plus the half-percent mortgage insurance. That single feature is what makes these strategies work. From there I cover the standby line of credit that protects your portfolio in a down market, how a reverse mortgage can cover long-term care insurance premiums while reducing what you pull from your portfolio every year, and finally the reverse mortgage for purchase strategy where you let the interest build up, then use your required minimum distribution to pay it down — potentially unlocking a tax deduction while the money goes right back into your growing line of credit. I also share the honest cautions: I'm a reverse mortgage professional, not a tax advisor. Please take this to your CPA. Every situation is different — my job is to educate you, not pressure you. No cost, no obligation, no pressure.

    An HECM Is More Than a Loan: Three Strategies for Retirement Income, Care, and Taxes

  6. Sep 17

    HECM vs. Proprietary Reverse Mortgages: Which One Is Right for You?

    Ninety-five percent of the time, I talk about the FHA-insured reverse mortgage — the Home Equity Conversion Mortgage, or HECM. But this year, I've done more non-FHA, proprietary reverse mortgages than I have in the last five years combined. And I want to explain why. In this episode, I compare the HECM and proprietary reverse mortgages in plain language. I cover how they're the same — no required monthly payments, non-recourse protection, and the same five responsibilities — and then I dig into the differences that actually matter: minimum ages, how much money you can access, the 60% initial disbursement rule, origination fees, mortgage insurance, interest rates, condos, debt payoff, declining markets, and the line of credit guarantee. The short version? For most people, long term, the FHA-insured HECM is the better situation. But there are a lot of reasons it might not work for you — and that's exactly why I'm here to help you compare programs side by side. If you've ever wondered which type of reverse mortgage fits your situation, this episode is for you.

    HECM vs. Proprietary Reverse Mortgages: Which One Is Right for You?

  7. Sep 11

    Are Reverse Mortgages Expensive? A Cost Breakdown, Bucket by Bucket

    "Reverse mortgages are expensive." I've heard that more times than I can count over my 23-year career. Today, I take that claim apart piece by piece — and let you decide for yourself. To call anything expensive, you need something to compare it to. But a reverse mortgage is its own breed: it's the only mortgage that lets you live in your home for the rest of your life with never, ever a required monthly mortgage payment. So I walk through the three buckets of closing costs on the FHA-insured HECM — the upfront mortgage insurance premium, the origination fee, and the third-party costs — and explain exactly what each one buys you, from the lifetime guarantee and non-recourse protection to interest rates about three-quarters of a point below a conventional 30-year mortgage. I also share a special announcement for veterans. There's no VA reverse mortgage, and I've always thought that's a gap. So I've decided to do something about it — stick around to the end to hear my offer. If you've ever wondered whether the costs are worth it, this episode will give you the facts to decide for yourself.

    Are Reverse Mortgages Expensive? A Cost Breakdown, Bucket by Bucket

  8. Sep 3

    Aging in Place... or Not: Should You Stay or Should You Go?

    Should I stay in my home as I age, or should I move to something better suited for the years ahead? It's a question almost nobody answers on purpose. Most people let it answer itself — until a fall, a health scare, or the loss of a spouse makes the decision for them at the worst possible time. In this episode, I walk through three good reasons to stay in your home and three good reasons to consider moving. I also explain why the timing of that decision matters just as much as the decision itself — because it's far easier to decide at 65 than it is at 85. Along the way, I show how a reverse mortgage can support you no matter which choice you make. If you're determined to stay, it can fund home modifications and in-home care. If you're ready to move, the HECM for Purchase program can help you buy a better home without a monthly mortgage payment. If you've been putting off this question, this episode is for you.

    Aging in Place... or Not: Should You Stay or Should You Go?
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About

Unlock the door to a financially free retirement with 'Reverse Mortgage Radio' – your go-to source for savvy financial insights in the world of reverse mortgages. Dive deep into the untapped potential of your home equity with industry experts, real-life success stories, and cutting-edge strategies that set us apart. Tune in to 'Reverse Mortgage Radio' and transform your golden years from uncertain to unbelievable. Hit subscribe and start redefining retirement on your terms today!

Information

  • Creator
    Bruce Simmons
  • Years Active
    2025 - 2026
  • Episodes
    138
  • Rating
    Clean
  • Copyright
    © Copyright 2024 Bruce Simmons
  • Show Website
    Reverse Mortgage Radio

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