A reverse mortgage turns part of your home equity into cash you can use for home updates, healthcare, debt or travel, without selling. Mark Boeck, Retirement Mortgage Advisor, guides Arizona homeowners through every step.
Pay for updates that make your home safer and easier to live in, such as grab bars, a new roof or a more efficient air conditioner for Arizona summers.
Use your equity for medical bills, home care or other support that helps you stay in your own home. A line of credit keeps money ready for costs you cannot predict.
Clear credit cards or personal loans and remove those monthly payments. The amount you pay off moves into the reverse mortgage, where interest still adds up over time.
Visit family, travel or take up new interests using equity you have already built. Each draw adds to your loan balance, so Mark helps you plan how much to use.
Take a lump sum, steady monthly payments, a line of credit or a mix. Mark shows how each choice affects your balance and what is left for later.
You keep the title and keep living in your home. You still pay property taxes, homeowners insurance and upkeep, and the loan is repaid when the last borrower sells, moves out or passes away.
Mark Boeck, Retirement Mortgage Advisor (NMLS #107448), has more than 25 years in mortgage lending and helps Arizona homeowners use their equity with a plan. Working with Mark means:
Using your home equity to fund your retirement is a smart way to create financial security. Mark Boeck, trusted Retirement Mortgage Advisor, answers common questions Arizona homeowners have about using a reverse mortgage for long-term peace of mind.
It turns part of your home equity into money you can use without selling or moving. Homeowners use it for home updates, healthcare, paying off debt, travel or a cash reserve. No monthly mortgage payment is required, but property taxes, insurance and upkeep continue.
Yes. You stay on title and keep living in the home as your principal residence. The loan is secured by the home and is repaid when you sell, move out permanently or pass away, as long as you keep up with taxes, insurance and maintenance.
You can choose a lump sum, monthly payments, a line of credit or a combination. A line of credit lets you draw only what you need, while a lump sum adds the full amount to your balance at once. Mark helps you match the option to your plans.
Yes. You can use the proceeds for any purpose, and many Arizona homeowners set aside funds for healthcare, in home care or long term care insurance. Using home equity this way can protect your savings, but it also reduces the equity left in the home.
Yes, with a HECM line of credit. The unused portion grows over time at the same rate as the loan balance, so more becomes available the longer you leave it untouched. The growth is not income paid to you; it increases how much you can borrow.
In most cases, no. It is a loan, not income, and it does not affect Social Security or Medicare. Needs based benefits such as Medicaid or SSI can be affected, so check with a tax adviser before you draw large amounts.
