Thank you for being here. This is an important conversation, and it deserves our full attention.
When we hear the words veteran homelessness, many of us picture someone living on the street, staying in a shelter, or searching for a place to sleep.
That picture is real.
But homelessness does not always begin in public view.
Sometimes it begins quietly inside a home.
It begins when an older veteran living on Social Security or a fixed retirement income watches property taxes, homeowners insurance, utilities, groceries, medical costs, and everyday expenses continue to rise.
It begins when the air conditioner stops working. When the roof needs repair. When an unexpected bill arrives and there is no money left at the end of the month.
And sometimes it happens to a veteran sitting inside a home they have owned for 20, 30, or 40 years.
Homeownership does not always mean financial security
An older veteran may own a home with substantial equity and still struggle to pay monthly expenses.
That situation is often described as being “house-rich and cash-poor.”
The veteran’s wealth is in the home. But the veteran may have very little spendable income available each month.
This creates a difficult financial reality.
Selling the home may provide needed funds, but it can also mean leaving a familiar neighborhood, losing stability, or moving farther away from family, medical providers, and community support.
Remaining in the home may be emotionally and practically important. Yet the costs of remaining there can become harder to manage every year.
This is why housing stability must include more than helping someone find a home. It must also include helping older veterans understand how they may be able to remain safely and securely housed.
America’s veterans are getting older
Millions of America’s veterans are now seniors.
Many served during Vietnam and earlier eras. They came home, went to work, raised families, purchased homes, and helped build the communities where we live.
They paid their bills. They maintained their properties. They supported their families. They contributed in ways that often went unrecognized.
Now they are growing older.
For some, retirement is not unfolding the way they expected. A fixed income may not stretch far enough to cover rising costs. Health needs may increase. Family support may be limited. Home maintenance may become more difficult.
According to the Department of Veterans Affairs, almost half of the veterans enrolled in VA health care were age 65 or older in fiscal year 2024. The VA has also identified a growing need for housing and supportive services designed around older and disabled veterans.
This is an issue our country cannot afford to ignore.
We have made progress: but prevention matters too
There is genuinely good news.
The VA reports that veteran homelessness declined by approximately 56% between 2010 and the January 2025 Point-in-Time count. That progress reflects the work of the VA, the U.S. Department of Housing and Urban Development, community organizations, case managers, volunteers, and many others.
Programs such as HUD-VASH and Supportive Services for Veteran Families have helped veterans obtain housing, avoid homelessness, and connect with supportive services.
That progress deserves recognition.
But helping someone after they lose housing is only part of the solution.
We should also be asking:
What can we do to help an aging veteran before housing insecurity becomes a crisis?
For an older veteran homeowner, that conversation should include the resources already available to them: including the equity in their home.
Could the home become part of the solution?
For some homeowners age 62 and older, a Home Equity Conversion Mortgage, commonly called a HECM or reverse mortgage, may provide another financial option.
A HECM is a loan insured through the Federal Housing Administration. It may allow an eligible homeowner to access a portion of the equity accumulated in the home.
Depending on the homeowner’s circumstances and the loan structure, proceeds may potentially be used to:
- Supplement retirement income.
- Establish a line of credit.
- Pay off an existing mortgage.
- Address certain qualified financial needs.
- Improve monthly cash flow while remaining in the home.
One significant difference from a traditional mortgage is that the homeowner generally does not make monthly principal-and-interest mortgage payments.
However, that does not mean the homeowner has no financial responsibilities.
The homeowner must continue to:
- Pay property taxes.
- Maintain homeowners insurance.
- Keep the property in acceptable condition.
- Pay required property charges.
- Occupy the home as their principal residence.
- Follow the terms of the loan.
A reverse mortgage is still a loan.
Interest and applicable charges accrue over time. The loan balance generally increases. As the balance grows, the amount of equity remaining in the home may decrease.
These details matter.
A HECM is not free money. It is not a grant. It is not a VA program. It is a financial product that may be appropriate for some homeowners and inappropriate for others.
A reverse mortgage is not right for everyone
At Operation T.A.G., we believe education should come before any financial product.
A reverse mortgage may not fit an older veteran who:
-
Plans to move soon.
A HECM is generally designed for a homeowner who expects to continue living in the property as their principal residence. -
Wants to preserve the maximum possible equity for heirs.
Borrowing against home equity can reduce the equity remaining in the home over time. -
Cannot reliably pay property taxes and homeowners insurance.
These responsibilities continue. Failure to meet them can place the loan in default and may put the home at risk. -
Cannot maintain the property.
Required repairs and ongoing maintenance remain the homeowner’s responsibility. -
Has another option that better meets the goal.
Downsizing, refinancing, selling, public benefits, home repair assistance, family support, or other resources may be more suitable depending on the circumstances.
The question should never be:
How do we sell a veteran a reverse mortgage?
The question should be:
What does this veteran need, and what options could help them retire with greater financial security?
That is a very different conversation.
Red, White & Secure™
That philosophy is why Operation T.A.G.: Tangible Act of Gratitude: created Red, White & Secure™.
Red, White & Secure™ was created for eligible veterans age 62 and older who determine, after receiving appropriate counseling and professional guidance, that a HECM may be suitable for their circumstances.
For those who qualify, the program can provide up to $6,000 in waived HECM origination fees.
This support is intended to reduce one part of the cost associated with a HECM. It does not eliminate the loan’s interest, applicable charges, ongoing property responsibilities, or long-term risks.
It also does not replace independent counseling.
A veteran and their family should have time to ask questions, compare alternatives, review the effect on heirs, and understand what happens if circumstances change.
Gratitude should not create pressure.
It should create protection, transparency, and choices.
Do not wait for a crisis
Housing insecurity rarely happens overnight.
It may begin with one missed payment, one delayed repair, one medical expense, or one month when the budget no longer works.
If you know an older veteran who is worried about staying in their home, encourage them to ask for help early.
Start by reviewing available VA and community resources. Veterans who are homeless or at imminent risk of homelessness can contact the National Call Center for Homeless Veterans at 877-424-3838. The VA also provides information about programs such as HUD-VASH and Supportive Services for Veteran Families.
Families should also consider:
- Speaking with a VA social worker or housing specialist.
- Asking about benefits and assistance for which the veteran may qualify.
- Reviewing home repair and accessibility resources.
- Meeting with a qualified housing or financial professional.
- Completing required counseling with an approved independent HECM counselor before making a reverse mortgage decision.
- Comparing the HECM with every reasonable alternative.
The goal is not to make a fast decision.
The goal is to make an informed decision before the situation becomes an emergency.
Our aging veterans should not become invisible
These men and women served our country when they were young.
They came home and built lives. They raised children. They paid mortgages. They strengthened neighborhoods. They contributed to the country they had defended.
They should not become invisible simply because the uniform has been hanging in the closet for 40 or 50 years.
At Operation T.A.G., we believe gratitude must be tangible.
It must be more than saying, “Thank you for your service.”
Sometimes tangible gratitude means helping a military family buy or refinance a home. Sometimes it means helping an aging veteran understand how to remain secure in the home they already own.
The answer will not be the same for everyone.
But every veteran deserves a respectful conversation, accurate information, and the opportunity to consider all available choices.
Educational disclaimer
This article is for general educational purposes only. It is not a loan offer, financial recommendation, tax or legal advice, or a guarantee of eligibility. HECM eligibility, costs, counseling requirements, loan terms, available proceeds, and program conditions vary by borrower and circumstance. A HECM is a loan and may affect home equity, heirs, benefits, and future housing options. Before making a decision, consult an approved independent HECM counselor and qualified financial, tax, legal, and housing professionals. Review all alternatives and the loan obligations carefully.
Learn more at Operation T.A.G. and Hometown Hero Credit.
Brett Stacy
National Director & Founder of the Hometown Hero Credit, a program of Operation T.A.G. (Tangible Act of Gratitude), and 501(c)(3) non-profit project of HDCF.
Websites: www.OperationTAG.org and www.HometownHeroCredit.com
Phone: 760-456-8748 : 24-hour Information Line
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