How does a home equity conversion mortgage compare to a conventional mortgage in California?

They're governed by FHA Federal Housing Administration. So there were bad things about the reverse mortgage in years past high interest rates, fees upfront. Those were bad since FHA has come along to monitor what's going on. Number one, whether you're black, white, yellow, green. Number two, whether you're in New York, Florida, California, nothing has changed. Everybody gets the same program. And once I educate my clients about the program, they have to go through over-the-phone counseling with an FHA-approved counselor, so that the counselor is sure that our clients know exactly what they're doing and what they're getting into.

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