# The Not-Yets: Planning vs. Crisis in Reverse Mortgages

By Sheila Landis (@sheilalandis) · Published 2026-09-28

Canonical: https://voce.com/@sheilalandis/avoid-crisis-mode-with-a-proactive-equity-plan-94muoh

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When is Yet? Two clients this week in opposite camps. A Planner and a Crisis.

“I had no idea this is how these actually work.” The phrase most often shared after we thoroughly review a reverse mortgage.

The planner moves to the next steps. The crisis is not ready yet.

To all of you not-yets, ask yourself which category you fall into.

## The Planner

The Planner will make their last mortgage payment at age 81, paying it off with a Home Equity Conversion Mortgage.

They will land with $291,000 in a line of credit that is currently growing at an average 6% annually.

They are taking no money at close. They are planning to have funds available to assist their son with his home purchase and provide for future medical needs.

They have savings, investments, SSA benefits, and other income. No crisis. A solid plan. Liquidity when needed, payment optional.

## The Crisis

The Crisis at age 86 has a six-figure mortgage on a condo with ever-increasing HOA fees.

She is bleeding cash, awaiting her husband’s long-term care policy to kick in and cover the costs of his now full-time care.

A reverse mortgage would pay off her home, leaving her with sufficient proceeds to cover medical expenses and a reserve.

She and family are undecided.

The Planner took action to move forward in under a week after carefully digesting our educational Q&A and several rounds of financial what-if modeling.

The Crisis postponed our in-office deep-dive meeting until next week.

I’m not saying the reverse is her best course now, but it likely would have been if she hadn’t waited for yet to arrive.

These are heartbreaking scenarios to come alongside.

Yet needs to arrive ahead of the crisis.