Reverse mortgages and healthcare



By Alain Valles, CRMP, MBA, CSA, Managing Director of Helping Hands Community Partners, Inc.

A 501(c)(3) self-funded nonprofit charitable organization $88 billion borrowed for healthcare

Alain Valles

According to a recent West Health-Gallup survey, Americans borrowed an overwhelming $88 billion to pay for health care last year.  The cost of medicine far outstripped health insurance coverage leaving many to cut back on life saving prescription drugs, not seek necessary treatment, or drastically reduce other household spending resulting in a lessened quality of life.

Dan Writters, Gallup senior researcher, stated,  “There are few Americans out there who are safe from the American healthcare cost crisis. More than three-quarters expect their costs to increase even more in the next two years with 45 percent saying they are concerned that a major health even will leave them bankrupt.”


For older Americans it’s even worse

The cost of healthcare, doctors’ visits, prescriptions, and forms to fill out when you’re healthy is enough to make you sick but when a cold turns more serious or a life event occurs or a chronic ailment worsens then the care you have available becomes critical.  Everyone agrees that it costs money to stay healthy.  Are you prepared?

Do you have a financial plan in place to cover the next 5, 10, and even 20 years of your life?  According to the American Association for Long-Term Care Insurance, approximately 50 percent of people will need some form of care.  Are you prepared?


Reverse mortgage to fund your healthcare

For eligible 62-year old or older homeowners, reverse mortgages give the opportunity to access tax-free cash, receive monthly cash flow, or have a readily available line of credit if money is ever needed during later chapters of life.  All of this comes with the option of no monthly mortgage payments (real estate taxes and insurance must be paid, the property maintained, and abide by other guidelines).  A reverse mortgage may be the optimum solution when paying for healthcare related needs.

Reverse mortgages can be used for a myriad of financial reasons including increasing monthly cash flow, home repairs, paying off debt, and remaining financially independent but more and more people are obtaining a reverse mortgage for financial peace of mind when it comes to potential healthcare costs.


Reverse mortgages are better than sleeping pills and antidepressants

I believe the most overlooked reason to obtain a reverse mortgage is simply this:  peace of mind.  Hopefully all is financially well for you, but if you have nagging concerns about outliving your savings or anxiety about the “what ifs” that might require money, then a reverse mortgage line of credit may be the answer to giving you the comfort of knowing that you’ve done your best to cover life’s unknowns.


Free consultation

Reverse mortgages are complex, and every borrower’s situation and goals are unique. Talking with a knowledgeable professional is the first step to learning if a reverse mortgage is right for you.  Call or email and we can have an informative chat and I’ll be happy to mail you the free 36-page “Use Your Home to Stay at Home” book which is the official federally HUD approved consumer booklet published by the National Council on Aging.

Please give me a call at 781-724-6221 or email me at to receive your free copy of “Use Your Home to Stay at Home.”  Thank you.


Alain Valles is Managing Director of Helping Hands Community Partners, Inc. and was the first designated Certified Reverse Mortgage Professional in New England.  He obtained a Master of Science from the M.I.T. Center for Real Estate, an MBA from the Wharton School, and graduated summa cum laude from UMass Amherst.  Valles can be reached directly at 781-724-6221 or by email at