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Suze Orman Viewer Asks About Reverse Mortgages

October 30th, 2008  |  by John Yedinak Published in News, Reverse Mortgage  |  7 Comments

image Last week CNBC’s Suze Orman was asked about reverse mortgages on her TV show.  One of her viewers called to ask if his 85 year old father should consider a reverse mortgage.  According to to the viewer, his father has been selling stocks to keep up with maintenance and other larger ticket items but is now considering a reverse mortgages.

The viewer asks, “Is it better for my father to keep unloading stocks or borrower against his kids future?”  Yes, the caller said his fathers assets were his future… sad.

What do you think the South Side of Chicago native said?  Check out the video.

Suze Orman – Reverse Mortgage Question

Technorati Tags: Reverse Mortgage,News,HECM,FHA,Suze Orman,HUD,CNBC


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  • Allen Hamilton

    The question is very typical. The answer is based upon the end result that the father wants to achieve.Suze has done her homework on reverse mortgages. Her overall answer is right on. Great job Suze. Keep up all your great work.
    APH, CFP and RM Lender Wholesaler for correspondents

  • David Bernstein

    Suzie,
    I am in total agreement with your comments.

    Being a senior, and a National Reverse Mortgage Specialist, please answer this question:

    Why is it kept a secret?

    It is allready insured by our government.
    It is protected by the FHA.
    It requires HUD counseling.
    It is controlled with the ethics of the National Reverse Mortgage Lenders Association.(NRMLA)

    So please tell me why?…..the politians, the press the media. No one yells checkit out. It might be for you,or your mother or dad, even both.

    Learn the facts!!!!!!!!!!!
    To All Senior Momeowners (62 & older)

    If you are having financial problems you should learn the facts about the Federally Insured FHA Reverse Mortgage Program, it might be for you.

    IT IS NOT A CURE ALL.
    However;
    I have witnesed it change the quality of life for many seniors.
    Try Living on $800 a month.
    I have attended closing that avoided forclosure
    I was at the settelment that stopped a local tax sale.

    Thanks for taking the time.

    If you desire more info, or have any questions for me, here is how you may reach me.

    Respectfully,

    David Bernstein
    Barclay funding Corp
    4 Shady Lane Suite B
    Rockledge, PA 19014
    215-379-5001 x 103 (office)
    215-206-1199 Cell
    cdb47@juno.com (home e-mai)

  • Anonymous

    The son sounds a bit selfish to me…but, regardless, the answer was correct on Suze’s part. Why incur capital gains when you can get tax-free benefits? Yes there is interest, but that is far lower than statistically what his portfolio will perform over the long haul. This 85 year-old father sounds like great canditate for a reverse mortgage, cash poor (not taking into account securities), house rich.

  • Pingback: CNBC’s Suze Orman Expects to See More Reverse Mortgages « Reverse Mortgage Moments

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