CPAs Talk Reverse Mortgages, Boomers Face Mortgage Debt Time Bomb

ReverseFocusReverse Focus Weekly Podcast Episode #379

In this week’s Reverse Focus podcast, Shannon Hicks discusses the new jumbo reverse mortgage product launched last week by American Advisors Group (AAG). The new loan, called AAG Advantage, will give qualified borrowers the opportunity to borrow up to $3 million in loan proceeds. 

Also discussed, a recent column from The Washington Post notes that more baby boomers are carrying housing debt into their retirement than past generations—and it could be setting them up for a “ticking time bomb.”

Last week, in another piece of reverse mortgage coverage from mainstream media outlets, the Huffington Post published an article that offered 10 reasons to get a reverse mortgage. Some of the top reasons included eliminating one’s mortgage payment; renovate or repair the home; access more funds to use for traveling and other leisure activities, among several other factors to consider when weighing the prospect of a reverse mortgage.

In the last podcast story, more financial planners have begun to speak out more recently about the advantages of utilizing a reverse mortgage in retirement, but what about accountants? A recent article from the Journal of Accountancy featured several certified public accountants (CPAs) weighing-in on retirement topics, including one who touts the use of home equity as a retirement asset.

To listen, login or become a free member to access past and current episodes.

Talking Points:

  • AAG launches new Jumbo Reverse Mortgage
  • Baby boomers face mortgage debt time bomb in retirement
  • Huffington Post: Top 10 Reasons to Get a Reverse Mortgage
  • CPA’s talk turkey about reverse mortgages

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

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