In this week’s Reverse Focus podcast, Shannon Hicks discusses a recent article published by The Wall Street Journal, which advised that much of the criticism plaguing reverse mortgages today is largely aimed at the Home Equity Conversion Mortgage (HECM) of the past. The article highlighted how the most recent round of HECM program changes have won over new supporters, namely financial advisers—many of whom may have scoffed at the prospect of using reverse mortgages as financial planning tools in the past.
On a lighter note, Hicks notes the appearance of famed actor Harrison Ford, who made a reverse mortgage joke during his appearance last week on ABC’s Jimmy Kimmel Live! Ford, who was invited to the show to discuss his roles in the Star Wars and Indiana Jones film franchises, cracked a joke about selling reverse mortgages as he dodged several probing questions from Kimmel regarding his role as Han Solo in the forthcoming Star Wars films.
In another podcast story, Hicks draws attention to a recent Forbes article written by Wade Pfau, which outlined several benefits of the HECM for Purchase product, including the possibility for retirees to either downsize or upsize their home in retirement.
Lastly, a new study from the Employee Benefit Research Institute reported that while Americans have gained confidence in their personal finances since the 2008 economic recession, many U.S. workers are still largely unprepared when it comes to saving and planning for their retirement years.
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- Don’t hate the reverse mortgage, hate the old one
- Harrison Ford jokes about reverse mortgages
- Forbes: The benefits of the HECM for Purchase
- State of Denial: Americans continue to postpone retirement preparations
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