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Your Local CrossCountry Mortgage Reverse Loan Officer
Doug Polk
I’ll be with you every step of the way
Hello! My name is Doug Polk, and I’m a loan officer at America’s #1 Retail Mortgage Lender, specializing in helping homeowners age 55 and older turn home equity into meaningful cash flow.
With over 15 years of experience with reverse mortgages, I work closely with retirees, financial planners and real estate professionals to explore strategies that can improve retirement stability, reduce financial stress and create flexibility for the years ahead.
I am known for simplifying the process. Whether it’s eliminating an existing mortgage payment, establishing a line of credit or creating a sustainable income strategy, my goal is always to help clients make confident, informed decisions that align with their goals.
I believe in collaboration and frequently partner with advisors to ensure each client receives well-rounded guidance tailored to their situation.
I have one simple mission — help retired homeowners improve cash flow, maintain independence and enjoy peace of mind in retirement.
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Estimate your reverse mortgage proceeds
Reverse mortgages are available for borrowers 62 and older. Available to borrowers as young as 55 in select states and programs only. Higher minimum age requirements may apply.
This calculator is being provided for educational purposes only. The results are estimates based on information you provided and may not reflect CrossCountry Mortgage, LLC product terms. The information cannot be used by CrossCountry Mortgage, LLC to determine a customer’s eligibility for a specific product or service.
Inspiration for your home loan journey
Frequently asked questions
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Reverse mortgages allow homeowners age 62+ (55+ for some proprietary reverse mortgages) to borrow against their primary residence equity, and receive the funds as a lump sum, fixed monthly payment, or line of credit. The loan doesn’t have to be repaid until the borrower sells, moves out, or passes away. (Equity is the difference between what you owe on your home [mortgage] and your home’s worth.)
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With a traditional mortgage, you borrow money to buy or refinance a home and make monthly principal and interest payments to the lender. With a reverse mortgage, you borrow money based on your home equity (and other factors) and receive the funds directly, but monthly mortgage payments are optional. You must pay property taxes, homeowners insurance, HOA dues (if applicable) and home maintenance.
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There are pros and cons to reverse mortgages, so it’s best to meet with an experienced reverse mortgage loan originator to understand if it’s the right choice for you. It’s important to know that there’s a lot of misinformation about these loans, so listening to a knowledgeable source is a good first step.
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HECM stands for Home Equity Conversion Mortgage. It’s a Federal Housing Administration (FHA) insured reverse mortgage for borrowers age 62 and over. By far the most popular type of reverse mortgage, you can use it to borrow funds and stay in your current home or buy a new home if you want to relocate or rightsize. It’s for your primary residence only.
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The most common reverse mortgage is the Home Equity Conversion Mortgage (HECM), followed by the proprietary reverse mortgage (often a jumbo loan) and the single-purpose reverse mortgage (funded by a nonprofit, state or local government).
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You don’t need to repay the loan until you no longer occupy your home as your primary residence. The loan is most often repaid through the sale of the property, but it can also be paid through a refinance. Any remaining equity after paying off the reverse mortgage belongs to the borrower or their heirs.