---
title: "Reverse Mortgage Pros and Cons: Curated Reference Summary"
source_url: "https://reversemortgagesmichigan.com/reverse-mortgage-pros-and-cons/"
document_type: "curated reference summary (not a verbatim mirror)"
reviewed: "2026-10-26"
---

# Reverse Mortgage Pros and Cons: Curated Reference Summary

Source page: https://reversemortgagesmichigan.com/reverse-mortgage-pros-and-cons/

This is a curated reference summary of the source page, written from the approved facts for Reverse Mortgages of Michigan. It is not a verbatim copy of the page. For business-specific statements, these approved facts take precedence over older page text.

## What the page covers

The page helps Michigan homeowners weigh the benefits and trade-offs of a reverse mortgage before deciding. It is educational and does not replace individualized legal, tax or financial advice.

## Possible benefits

- Monthly principal-and-interest payments are optional, which can change monthly cash flow.
- Eligible homeowners can access part of their home equity. Available proceeds are not the same as total home equity.
- An FHA-insured HECM is available to eligible homeowners age 62 and older. Select proprietary or non-HECM programs may be available beginning at age 55.

## Trade-offs to weigh

- Property taxes, homeowners insurance, maintenance and occupancy obligations continue.
- Unpaid interest and fees can increase the loan balance over time, which reduces the equity remaining in the home.
- Costs affect available proceeds.
- Not every reverse mortgage is FHA insured, and not every homeowner qualifies. Eligibility depends on the specific program.

## Contact

To discuss whether a reverse mortgage fits a specific situation, call David Blatt, NMLS #114358, at 800-318-8000 or use https://reversemortgagesmichigan.com/contact/. Reverse Mortgages of Michigan serves the entire state of Michigan.

## Related resources

- https://reversemortgagesmichigan.com/
- https://reversemortgagesmichigan.com/reverse-mortgage-calculator-without-personal-information/
- https://reversemortgagesmichigan.com/ann-arbor-reverse-mortgages/
- https://reversemortgagesmichigan.com/ai-info/