The image of the Reverse mortgage as something to be avoided, is gradually changing due to education. It’s been a long and difficult road to overcome the misunderstanding and misrepresentations of the federal loan program, but at last that is beginning to shift.
The Press seems to be more conscious about discussing the positives aspects of the FHA loan and now less time making uninformed, misleading and negative comments than they have in the past.
One area of shift in precetion and acceptance, is within the financial planning community. Their own trade publications have printed many articles in the last two years, explaining why the Reverse loan is an excellent solution to preserve wealth and extend a clients retirement funds for several additional years.
I am going to share an article that discusses this in particular and Financial Planners. It’s a bit lengthy and will will share the remainder of it in subsequent posts.
Investment News: Reverse Mortgages Recast for Financial Planners
Posted By Alyssa Gerace On February 19, 2014 @ 5:06 pm In News,Retirement,Reverse Mortgage | No Comments
“Reverse mortgages could get recast from their commonly-perceived “loan of last resort” role to that of a financial tool for retirement if industry lenders get their way, says a recent Investment News article .
Despite more than two decades of being seen as a financial lifeline for seniors who are house-rich, cash-poor, reverse mortgage lenders are hoping research from leading financial advisers paired with new rules from the Department of Housing and Urban Development will change the product’s role, says the article. ”