Frontier Loan Group, Inc. CEO & Reverse Mortgage Expert, Michael Gaddis, J.D., was interviewed on April 30, 2016 by Drew Schlosberg of the San Diego Union Tribune during his “Community Spotlight Show” on  Drew Schlosberg asked Michael Gaddis, J.D. questions about his background as well as some substantive questions about reverse mortgages.  Michael Gaddis, J.D. and Drew Schlosberg also discussed ethical issues surrounding reverse mortgages.  Michael Gaddis, J.D. pointed out that due to his legal background and being a member of the California State Bar, he is held to a very high ethical standard.  As Home Equity Conversion Mortgages (HECM) gain in popularity more and more seniors over the age of 62 are becoming curious about the ability of this flexible loan product to supplment their financial situation.  HECM’s allow qualifying seniors to utilize equity in their home to eliminate monthly mortgage payments and access equity from their home. The HECM is a very flexible product with many payment options.  Some seniors desire a monthly check to be sent to them to help supplement whatever retirement income they may be receiving while others prefer to establish a line of credit that actually grows yearly by the amount of their initial interest rate plus their mortgage insurance premium.  The line of credit is Michael Gaddis, J.D.’s favorite HECM option due its growth potential and for the fact it cannot be frozen or reduced.  HECM’s are federally insured by the FHA which protect borrowers making HECMs a very safe loan product.

HECM’s can literally change the quality of life for some seniors who are living on social security and a small pension but who either have a paid off house or a lot of equity in their home.  Some seniors are are such restrictive budgets that they cannot even afford the simple luxuries of life such as going out to eat, going to a movie, visiting grandchildren or even, due to the cost of gas, going to church.  Michael Gaddis, J.D. believes that seniors did not work hard all of their life to live so restricted during their golden years.  However, as with any loan product, interested seniors need to perform their due diligence and educate themselves about the nuts and bolts of how HECM’s work.  There are a lot of myths and misconceptions about reverse mortgages and the only way to dispel these myths is through education.  Michael Gaddis, J.D. is a big believer in education and analysis.  He throws frequent workshops aimed at helping seniors thoroughly understand reverse mortgages so that they can weigh the benefits and considerations and determine whether or not a reverse mortgage is right for them.  Michael Gaddis, J.D. frequently states, “HECMs are not the right choice for every senior.  In order to determine whether or not a reverse mortgage is the right choice for you, a thorough subjective analysis of your personal situation must be conducted taking into consideration your financial situation, your objectives and your current estate plan.”  Michael Gaddis, J.D. encourages children and beneficiaries to take part in dicussions and ask as many questions as possible.

Watch the interview and listen to Michael Gaddis, J.D. for yourself. For more information about me or Frontier Loan Group, Inc. please visit or

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