Fox Business News Asks the Reverse Mortgage Question

Fox Business asks is a reverse mortgage right for you?  The segment includes real estate investor and author Jim Randel who explains the pros and cons of reverse mortgages.

Despite the screen showing that reverse mortgages are for people 65 and older, it was a good segment.  One of the Fox News anchors says that shouldn’t the person just sell the home?  Randel points out that the costs from selling the home will be more expensive than getting a reverse mortgage.  That’s probably the first time I’ve heard a commentator on TV say that, nice work Randel. See the video below.

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It’s good to see Fox News covering reverse mortgages, but CNBC did a better job

Is a reverse mortgage right for you? 

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  • You can tell that the anchors still don't get it! Iit is still amazing – the lack of overall knowledge! Good job of explaining selling vs reverse COSTS however!

  • The anchors did not understand (and the expert did not explain) that the reason it would be more appropriate for seniors than a HELOC is because there ARE NO payments. How do they always miss this?

    Then the anchor asked “why not just sell your house”? And the guy did not give a good answer. It's because they probably could not afford to rent! And the senior would then have escating housing costs as long as they lived. The Reverse Mortgage increases cash flow.

  • The anchors did not understand (and the expert did not explain) that the reason it would be more appropriate for seniors than a HELOC is because there ARE NO payments. How do they always miss this? rnrnThen the anchor asked “why not just sell your house”? And the guy did not give a good answer. It’s because they probably could not afford to rent! And the senior would then have escating housing costs as long as they lived. The Reverse Mortgage increases cash flow.

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