EP 254 - Can You Get a Reverse Mortgage If You Still Have a Mortgage? What Homeowners Need to Know

About this episode

One of the biggest misconceptions I hear about reverse mortgages is this: “I’d love to explore a reverse mortgage... but I still have a mortgage, so I probably don’t qualify.” Many homeowners automatically rule themselves out without ever learning how reverse mortgages actually work. The truth is, having an existing mortgage doesn’t automatically mean you can’t be eligible. In this episode of the Simplify Senior Transitions Podcast, Dale Corpus explains why this is one of the most common myths surrounding reverse mortgages, how an existing mortgage fits into the conversation, and why every decision should begin with your family’s goals—not assumptions. Whether you’re trying to reduce monthly financial stress, pay for home care, remain in your home longer, or simply understand your options, this episode will help you make more informed decisions. 🎙️ IN THIS EPISODE, YOU’LL LEARN • Can you qualify for a reverse mortgage if you still have a mortgage? • Why many homeowners incorrectly assume they don’t qualify • How an existing mortgage factors into the conversation • A realistic family scenario • Why home equity is only one part of the equation • Situations where a revers