In this week’s Reverse Focus podcast, Shannon Hicks talks baby boomer debt, reverse mortgages in divorce, and why Massachusetts reverse mortgage counseling is a mess.
Hicks discusses a recent Bloomberg News article that reviews the current challenges baby boomers face regarding their savings and debts, pointing to housing debt as a major drag on the potential for more use of reverse mortgages.
Additionally, Hicks points to a recent statement from the Mortgage Professionals Association that indicates all mortgage professionals should have the ability to offer reverse mortgages to their borrower customers. That way, they can provide a full product array to borrowers on the older end of the spectrum, MPA says.
Another recent report points to the way in which a reverse mortgage can be helpful in divorce; smoothing a “bumpy road,” Hicks says.
Finally, the podcast details the latest in reverse mortgage counseling in Massachusetts—which has recently undergone a seesaw from required face-to-face counseling and back. Hicks provides the update.
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- Baby Boomer Debt Limits Future Reverse Mortgage Market Potential
- Mortgage Professional group says reverse mortgages a must in product offering mix
- After divorce a reverse mortgage may help smooth a bumpy road
- The Massachusetts Mess: Face to Face counseling rule changes
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Editor’s Note: These posts are sponsored by Reverse Focus.