Use your home's equity.
Keep living in your home.
Kenny Farshchian specializes in reverse mortgages for homeowners 62 and older in Utah and Florida — with patient, family-friendly consultations and no pressure.
A reverse mortgage, in plain English
A reverse mortgage — most often an FHA-insured Home Equity Conversion Mortgage (HECM) — lets homeowners 62 and older convert part of their home equity into cash, without selling the home and without a required monthly mortgage payment.*
The loan balance grows over time and is repaid when the last borrower sells the home, moves out permanently or passes away. You keep ownership of your home the whole time.
Every detail explained in plain English — with your adult children or financial advisor welcome at the table.
(801) 520-8475Flexibility for retirement
Supplement retirement income
Receive funds as a lump sum, monthly payments, a line of credit or a combination.
Eliminate a mortgage payment
Pay off an existing mortgage and have no required monthly mortgage payment.*
Build a financial cushion
An unused line of credit can be there for healthcare, home repairs or the unexpected.
Buy a home that fits this stage
A HECM for Purchase can help you right-size or move closer to family.
General eligibility
Every situation is different — a short conversation with Kenny will tell you where you stand.
- At least one borrower is 62 or older
- The home is your primary residence
- You have significant equity in the home
- You complete a HUD-approved counseling session
- You can keep paying property taxes, homeowners insurance and upkeep
Clear answers for you and your family
Does the bank own my home with a reverse mortgage?
No. You keep title to and ownership of your home. The loan is repaid when the last borrower sells the home, moves out permanently or passes away.
What happens for my heirs?
Your heirs can keep the home by paying off the loan, often through refinancing, or sell it and keep any remaining equity. With an FHA-insured HECM, heirs never owe more than the home is worth when it's sold.
Can I lose my home with a reverse mortgage?
Like any mortgage, there are obligations. You must live in the home as your primary residence, pay property taxes and insurance, and maintain the property. Kenny will make sure you and your family understand these clearly before you decide.
Can my children join the consultation?
Absolutely — Kenny encourages it. Many families find it helpful to have adult children or a financial advisor in the conversation.
*Borrowers must occupy the home as their primary residence, continue to pay required property taxes, homeowners insurance and any HOA fees, and maintain the home according to FHA requirements. The loan becomes due and payable when the last borrower or eligible non-borrowing spouse no longer lives in the home. These materials are not from, nor approved by, HUD, FHA or any government agency.