Moving Parts of Reverse Mortgage Costs, More ‘Education Week’ Details

ReverseFocusReverse Focus Weekly Podcast Episode #404

In this week’s Reverse Focus podcast, Shannon Hicks discusses next month’s reverse mortgage “Education Week” sponsored by the National Reverse Mortgage Lenders Association. The inaugural, week-long event is an attempt to facilitate conversations about reverse mortgages among non-industry professionals, including financial advisers, Realtors and home care professionals. Education Week takes place April 18-22, with more details to come from NRMLA. 

Also discussed, a recent article from Houston’s Chron.com highlighted key aspects of the reverse mortgage non-borrowing spouse policy, specifically focusing on the ability of spouses to remain living in the home following the death of their reverse mortgage borrowing husband or wife. 

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In another podcast story, Hicks discusses how recent HECM program changes over the years have rekindled interest and opened the minds of many financial planners, including one planner who recently launched his own reverse mortgage origination business. Florida-based Holland Financial serves its clients with a variety of financial planning and investment advisory services. And now, in response to a growing interest among its clientele, the company is increasing its offerings with a new reverse mortgage division.

Lastly discussed, Forbes recently published an article—its latest in a series of reverse mortgage coverage—exploring the considerations when choosing a package of costs for a reverse mortgage. Because reverse mortgage costs have a lot of moving parts, it is important for prospective borrowers to pick a cost package that works best for their particular situation and what they hope to achieve with a reverse mortgage, writes Forbes columnist Wade Pfau, professor at The American College and principal at McLean Asset Management.

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Talking Points:

  • Reverse mortgage education week begins next month
  • Chron.com: The skinny on non-borrowing spouse rules and changes
  • Why one financial planner started doing reverse mortgages
  • Forbes: Choosing reverse mortgage costs and options

Listen nowReverse 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