Reverse loans, Regulations & Counseling

In the ten years that I have been employed as a Reverse Mortgage specialist, I have seen many changes in the the program,  resulting in more loan options with lower fees and more government regulation which is for the senior’s benefit.

Peter Bell is the President of the National Reverse Mortgage Lenders Association and recently had an article published in the magazine, “Life After 50” covering the history and initiation of Reverse loans and the changes to the government program over the last several years. The article is too long to post here, but I will share some of his comments.

“From conception, HECM’s have featured groundbreaking consumer protections including mandatory pre-application, independent counseling. They are the only financial product that mandates borrowers have independent counseling before they can apply for a loan. Counseling gives prospective borrowers the opportunity to fully understand and consider the terms and implications of a reverse mortgage loan with an independent professional before a borrower applies for a loan.”

“Reverse mortgages are a well-conceived tool in the retirement toolbox that have benefited from product innovation and evolution of consumer protections. Today’s borrowers have more choice, cheaper loans and more protection.”

Please call me with any questions that you may have about using reverse loans for LTC and retirement benefits. There are many low-cost options to chose from and the mortgage rates are at historical “lows”.

With the loss of many social programs that seniors have come to rely upon, funds from a Reverse loan can keep them in their home and assist them in paying for long-term-care and other expenses.




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Reverse Loan Consultant