Last night CNBC’s Dennis Kneale spoke with Jeffrey Lewis of Generation Mortgage and Babette Bach, an elder law attorney about reverse mortgages. In Reverse Mortgages: Next Subprime? they debate whether the government guaranteed HECM program is fueling another bubble.
Lewis does a great job during the debate but I can’t say the same about his opponent Ms. Bach. Bach clearly doesn’t understand reverse mortgages which is why you can see her reading notes from her lap during the debate. Even after she states that there is, “a tidal wave of need” for reverse mortgages, she doesn’t think it’s a good product. See the video below.
Two other quick notes, I found it funny that they were running a Senior Lending Network commercial while Jeff was talking and Dennis Kneale did refer to him as “Babe” around the 5:00 minute mark.
While CNBC doesn’t pick a winner in these kind of debates, lucky for us RMD does. Jeff Lewis, hands down.