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The Mike Litton Experience

Reverse Mortgages Explained: Laura Phillips on Wealth, Family & Smart Retirement

The Mike Litton Experience

Mike Litton

Business, Kids & Family, Parenting, Careers

5.01.2K Ratings

🗓️ 9 April 2026

⏱️ 28 minutes

🧾️ Download transcript

Summary

In this episode of The Mike Litton Experience, host Mike Litton sits down with mortgage expert Laura Phillips, a seasoned loan originator with over 35 years of experience in the industry. From a childhood spent traveling across the United States to becoming a trusted authority in reverse mortgages, Laura shares her inspiring journey and the lessons that shaped her career. She dives deep into how reverse mortgages have evolved into a powerful financial planning tool—helping seniors create financial flexibility, support their families, and maintain independence in retirement. You’ll hear real-life stories of how Laura has helped clients fund once-in-a-lifetime experiences, support future generations, and navigate unexpected financial challenges with confidence. 🔥 What you’ll learn in this episode: How reverse mortgages actually work (and common misconceptions) Why they are no longer a “last resort” financial option Strategies to use home equity for retirement planning Real client success stories that will inspire you The importance of family, legacy, and financial wisdom Laura’s personalized, client-first approach and decades of expertise make this a must-watch for anyone interested in real estate, retirement planning, or financial freedom. 👉 If you’re looking to better understand your financial options or help loved ones plan for the future, this episode is packed with valuable insights. ✅ Don’t forget to LIKE, COMMENT, and SUBSCRIBE to The Mike Litton Experience for more powerful conversations with industry experts and inspiring individuals. 🔔 Turn on notifications so you never miss an episode! FAIR-USE COPYRIGHT DISCLAIMER: Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for “fair use” for purposes such as criticism, commenting, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use. Welcome to The Mike Litton Experience Podcast! Mike is passionate about being a father, a teacher, a Realtor, an investor and a leader! Everyone has a story and our passion is to help them tell it! We never want you to miss an episode, so please be sure to subscribe. Could we ask you for two quick favors? If you like our program, please tell a friend. Wherever you get your podcasts please leave us a rating. It helps us to connect with quality people just like you! Reach out to Mike on Instagram @themikelittonexperience. Thank you for joining us for The Mike Litton Experience! Who you work with matters and we would be honored to interview with you or anyone you know to sell your home! If you have questions, please reach out text or call 760-522-1227. Thank you! #livinginsandiego, #movingtosandiego, #themikelittonexperience, #homesforsaleinsandiego, #mikelitton, #sellahomeinsandiego, #buyahomeinsandiego, #toptipstogetthebestoffer #themikelittonexperience

Transcript

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0:00.0

Thanks again for being here.

0:02.0

Thank you so so much.

0:04.0

Well, I almost hesitate to say where I was born.

0:09.0

I was born overseas.

0:11.0

My father was a geologist, and it was his first career, and so he was stationed in Venezuela.

0:18.0

Wow.

0:20.0

Kind of a hot spot, right, man?

0:21.6

Oh, my gosh.

0:22.6

And so the rest of the time, I was a geologist child.

0:26.6

We moved every 18 months.

0:28.6

Wow.

0:29.6

We lived all over the United States, always west of the Mississippi.

0:34.6

So he kind of followed the oil patch in his career as a geologist from sitting on the wells to being, you know, a person in the office.

0:41.3

And it was kind of settled in Texas. That was probably 15 plus years ago. And I really wasn't in that arena back then. I was really doing more forward mortgages, typical loan that we do.

0:53.3

The gentleman called me from Colorado Springs and he wanted to give his wife a gift of a

0:59.2

lifetime.

1:00.2

She had been diagnosed with, I don't know, something that wasn't going to allow her to live

1:04.7

a lot longer.

1:05.7

And he wanted to take the money out of the home and give her a trip around the world.

1:10.7

Wow. And that just still give, a trip around the world. Wow.

1:11.6

And that just still get, I literally even talking to you, I get goosebumps about that one.

1:16.6

Because what a wonderful gift.

...

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