On this episode of Zen and the Art of Real Estate Investing, Jonathan Greene sits down with Cheryl Scheidell, a reverse mortgage specialist with Barrett Financial Group, for an in-depth conversation about one of the most misunderstood financial tools available to homeowners. Cheryl explains how reverse mortgages have evolved over the years, who they are designed to help, and why they can play an important role in retirement planning, wealth preservation, and helping seniors age in place with greater financial security.
Jonathan and Cheryl break down exactly how reverse mortgages work, separating common misconceptions from reality. Cheryl explains why borrowers are no longer required to make monthly mortgage payments, how equity is accessed responsibly, and why modern safeguards, including HUD counseling, have made today's Home Equity Conversion Mortgage (HECM) program much different from the products that earned a negative reputation years ago. They also discuss how reverse mortgages can be used to purchase homes, refinance existing loans, or even preserve low-interest first mortgages through second-position products.
The conversation also explores the importance of family communication around financial planning. Jonathan and Cheryl discuss why adult children should be included in these conversations, how reverse mortgages can reduce the financial burden on families caring for aging parents, and why proactive estate planning often prevents unnecessary conflict later. They also explain how reverse mortgages can help pay for home modifications, in-home care, assisted living expenses, or simply allow retirees to enjoy the wealth they have spent decades building.
Ultimately, this episode highlights the value of education over assumptions. Rather than viewing reverse mortgages as a last resort, Jonathan and Cheryl encourage listeners to understand them as one potential financial planning tool that, when used appropriately, can improve cash flow, preserve retirement assets, and create greater peace of mind for both homeowners and their families.
In this episode, you will hear:
- How reverse mortgages work and why today's programs differ from outdated perceptions
- Why reverse mortgages can improve cash flow while allowing seniors to remain in their homes
- How reverse mortgages can help fund home modifications, healthcare, and retirement expenses
- Why involving adult children in financial planning conversations benefits the entire family
- How Home Equity Conversion Mortgages (HECMs) include consumer protections and required counseling
- Why reverse mortgages can serve as a valuable wealth preservation and retirement planning tool when used appropriately
Follow and Review
If you enjoy the show, please follow Zen and the Art of Real Estate Investing on Apple Podcasts and leave a rating and review. It helps other listeners discover the show and supports its continued growth.
Supporting Resources
Connect with Cheryl:
Website - reversemortgageandbeyond.com
YouTube - @reversemortgageandbeyond
Facebook - https://www.facebook.com/ReverseMortgageLoanOfficer/
Instagram - reversemortgageandbeyond
LinkedIn - linkedin.com/in/cherylscheidell
Email - cheryls@barrettfinancial.com
Cell - (480) 817-4324
Connect with Jonathan:
Podcast - www.zenandtheartofrealestateinvesting.com
YouTube - www.youtube.com/JonathanGreenere
Instagram - www.instagram.com/zenrealestateinvesting
Instagram - www.instagram.com/trustgreene
Bigger Pockets - www.biggerpockets.com/users/TrustGreene
Facebook - www.facebook.com/zenandtheartofrealestateinvesting
Jonathan's Hub Site - www.trustgreene.com
Brokerage - https://www.streamlined.properties
This episode was produced by Outlier Audio.
