Unlock the Equity in Your Home - FREE Webinar with Premier Educator, Michael Pankow

Learn how to use your home to retire with peace of mind, financial security, and freedom!

Frequently Asked Questions About Reverse Mortgages

Will I lose ownership of my home with a reverse mortgage?

No. You remain the owner of your home. A reverse mortgage is simply a loan against the equity you’ve built. As long as you live in the home and meet basic obligations like property taxes and insurance, you retain full ownership.

What happens to the loan when I pass away or move out?

When the home is no longer your primary residence (due to moving, selling, or passing away), the loan becomes due. Your heirs can choose to repay the loan and keep the home, or sell the home and use the proceeds to pay off the balance. Any remaining equity belongs to your estate.

How do I receive the money from a reverse mortgage?

You can choose to receive funds as a lump sum, monthly payments, line of credit, or a combination. Michael will walk you through the best option for your goals during the webinar.

Can my child(ren) help me manage or apply for a reverse mortgage?

Absolutely. Many adult children attend Michael’s webinar or consultations with their parents. In fact, it’s encouraged — having a trusted family member involved makes the process more transparent and supportive.

Michael Pankow

NMLS #220611

CEO & President of Reverse Mortgage Division

Veterans Mortgage of America

CSA (Certified Senior Advisor)

CAPS (Certified Aging-In-Place Specialist)

Board Member, National Aging in Place Council

(916) 296-7765

Michael Pankow is a highly accomplished and seasoned Retail Mortgage executive with over 20 years of experience successfully leading large companies that have funded more than 20 billion dollars over the lifespan of his Retail Mortgage career. With a proven track record of driving sales and operational excellence, Michael’s experience at both the regional and executive level including Regional Manager, SVP, and EVP Sales, have equipped him with the necessary skills and expertise to serve as the CEO of Veterans Mortgage of America and President of its Reverse Mortgage Division.

In addition to his stellar career in the mortgage industry, Michael is a forward-thinking entrepreneur with diverse business interests in both the Aviation and Film Industry. His leadership abilities and strategic vision have been honed not only through his entrepreneur endeavors, but additionally through his experience as both a Noncommissioned and Commissioned Officer in the US Army, where he served a total of 12 years, including time as a Combat Military Police Executive Officer of a Combat Military Police company. Michael’s dedication and commitment to excellence were evident throughout his military service, as he was recognized as one of two Honor Graduates of his Officer Candidate School Class of 1993.

A passionate advocate for veterans, seniors, active-duty service members, and their families, Michael has a deep-seated commitment to serving those who have served our country. As a father of three children including his oldest who served a tour of duty as a US Marine in addition to being a son himself of an Army helicopter pilot and Vietnam Veteran, Michael understands firsthand the sacrifices made by Veterans and their families and is dedicated to providing support and resources to those in need.

With a strong focus on team building, talent development, and scaling retail mortgage groups to profitable levels, Michael is a dynamic leader with a proven ability to drive results while making a positive impact in both the business and community at large.

Michael is licensed in all 50 states and holds the prestigious Certified Senior Advisor (CSA) credential, accredited by both the ANSI National Accreditation Board (ANAB) and the National Commission for Certifying Agencies (NCCA). Additionally, he is a Certified Aging-in-Place Specialist (CAPS), a designation awarded by the National Association of Home Builders.  Lastly, Michael serves as the Chair of the Education Committee for the National Aging in Place Council.

Powered by Texana Bank, N.A. | NMLS ID #407536, an Equal Housing Lender.

 The content provided in this website is presented for informational purposes only and is not a commitment to lend or extend credit. Program, rates, terms, and restrictions are subject to change without notice. All loans are subject to credit approval. Underwriting terms and restrictions may apply. VMA™ is an approved lender and not an agency of the Federal Government or affiliated with the Department of Veteran Affairs or acting at the direction of HUD/FHA. We are licensed in all 50 states. 

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