Fox News Delves into Reverse Mortgage Successes, Changes

Following a column published late last week by Fox News’ Bob Massi, the network also produced a video segment featuring reverse mortgages this week. 

In his look into reverse mortgages, “How to Have a Reverse Mortgage Success Story,” Massi interviews two couples who have successfully used reverse mortgages to improve their retirement situations. In one case, a married couple is using the reverse mortgage as a way to delay drawing down on stock market investments, and in the other case, the borrowers have used the reverse mortgage for medical expenses, among other items. 

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Massi also interviews reverse mortgage professional Josh Shein of Home Point Financial; a lender that acquired Maverick Funding in a deal announced late last year. 

The reverse mortgage is “one of the most misunderstood items in real estate,” Massi says in the segment, which covers specific misunderstandings such as the idea that the bank takes the home from the borrowers. 

“When it comes down to it, it’s just a loan,” Shein says. “… the balance of that loan grows over time.” 

Massi also covers recent reverse mortgage changes, including willingness and capacity requirements that apply through the financial assessment that is now part of the origination process. 

View the Fox News segment.

Written by Elizabeth Ecker

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  • I agree with The_Cynic on the entire comment made, right on target Cynic!

    Yes, Bob Massey has sure changed his tune from over the years,. I mentioned this before but not to many years ago there was a segment on Fox News where Bob Massey gave a15 minute talk about the pros and cons about reverse mortgage’s. Most of it was con and most of What Bob said was way off base. I challenged Fox News and Bob Massey to a head on debate and rebuttal of his 15 minute presentation, Fox News and Bob Massey refused!

    I would agree with The_Cynic again, Bob Massey sounded as positive as he will probably ever get about reverse mortgage’s. However, he was guided by the positives’ of the two sets of borrowers and Josh Shein
    It was not surprising that both Bob Massey and Josh Shein did not pick up on the errors in the statements by both, as The_Cynic pointed out!.
    John A. Smaldone

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