14 Oct Reverse Mortgages as a Financial Tool After a Cancer Diagnosis

October 14, 2025 ~ A cancer diagnosis often brings more than just medical and emotional challenges—it can also strain your finances. Between treatment costs, time away from work, and shifting priorities, you may find yourself exploring all possible financial options to ease the burden. One tool that deserves careful consideration is a reverse mortgage.

What is a Reverse Mortgage (and What’s New)?

In short, a reverse mortgage lets older homeowners (typically age 62+) tap into the equity of their home without having to sell it or make monthly mortgage payments. Reverse mortgages aren’t for everyone, but they may be a useful option in certain circumstances.

Kristi Sullivan, a financial planner and a trusted partner, recently published a helpful blog post outlining new rules that improve reverse mortgages, making them safer and more flexible for homeowners. The blog explains how these changes could make reverse mortgages more accessible for some people coping with unexpected financial needs.

Could a Reverse Mortgage Be Right for You?

Because reverse mortgages are complex and powerful tools, it’s wise to consult a certified financial planner (CFP®) before deciding. A planner can:

• Analyze your full financial picture
• Identify whether a reverse mortgage aligns with your goals
• Explore alternative strategies (e.g. home equity lines of credit, downsizing, Medicaid planning, or drawing from retirement savings)
• Help you understand tax implications, benefit eligibility, and estate impacts
• Provide peace of mind that you’re making an informed choice

How Can Triage Cancer Connect You to a Financial Planner—Free of Charge?

As part of our commitment to supporting people with cancer through practical, holistic resources, we offer a free Legal & Financial Navigation (LFN) Program, where you can get one-on-one answers to your questions. Through this program, you can also be connected—at no cost—to a certified financial planner who volunteers to work with individuals diagnosed with cancer and their families.

Here’s how it works:

• You request an appointment through our LFN Program.
• After talking with our team at Triage Cancer, if you decide you would like to be matched with a financial planner, we will make that referral.
• You receive a free consultation—no fees, no obligation.
• Together, you explore whether a reverse mortgage or other financial tools fit your unique situation.

If you’re finding it hard to manage your finances after a cancer diagnosis, you are not alone. There are resources to support you.

For more information about managing finances visit our financial resources.

About Triage Cancer

Triage Cancer is a national, nonprofit providing free education to people diagnosed with cancer, caregivers, and health care professionals on cancer-related legal and practical issues. Through events, materials, and resources, Triage Cancer is dedicated to helping people move beyond diagnosis.

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