A reverse mortgage: is it the last option or the best hope? In this week’s Reverse Focus podcast, Shannon Hicks discusses that in light of the approaching program changes, it’s time to stop thinking of reverse mortgages as a product of last resort and begin considering them as legitimate retirement tools. A recent article from ThinkAdvisor delves deeper into the debate.
Also discussed, Hicks touches on the difficult topic of how to talk to aging parents about money, as reported in an article from the Wall Street Journal that offers several tips to broach the subject. To no surprise, the biggest mistake people make when it comes to talking about finances is putting off the discussion until the time seems “right.”
For prospective reverse mortgage borrowers, wanting to maximize wealth rather than consumption should be the utmost goal of those considering taking out these loans, says the latest column from The Mortgage Professor Jack Guttentag featured in The Huffington Post.
Lastly, America faces another crisis—not necessarily a financial one, but rather a massive swelling of the nation’s aging population that is already limiting many seniors’ access to healthcare, particularly in rural counties. NBC recently illustrated the need to expand aging services in an article.
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- Reverse mortgages: last option or best hope?
- WSJ: How to talk to aging parents about money
- HuffPost: Reverse borrowers should consider wealth goals
- America’s aging tsunami crisis
Listen now. “Reverse Focus is the ultimate resource for reverse mortgage professionals providing the technology, training and marketing to grow your business. We are your one-stop resource for those committed to taking their business to the next level.” Editor’s Note: These posts are sponsored by Reverse Focus.
Written by Jason Oliva