Reverse Mortgages Hindered by Debt, The Massachusetts Counseling Mess

ReverseFocusReverse Focus Weekly Podcast Episode #325

In this week’s Reverse Focus podcast, Shannon Hicks talks baby boomer debt, reverse mortgages in divorce, and why Massachusetts reverse mortgage counseling is a mess. 

Hicks discusses a recent Bloomberg News article that reviews the current challenges baby boomers face regarding their savings and debts, pointing to housing debt as a major drag on the potential for more use of reverse mortgages. 

Additionally, Hicks points to a recent statement from the Mortgage Professionals Association that indicates all mortgage professionals should have the ability to offer reverse mortgages to their borrower customers. That way, they can provide a full product array to borrowers on the older end of the spectrum, MPA says. 

Another recent report points to the way in which a reverse mortgage can be helpful in divorce; smoothing a “bumpy road,” Hicks says. 

Finally, the podcast details the latest in reverse mortgage counseling in Massachusetts—which has recently undergone a seesaw from required face-to-face counseling and back. Hicks provides the update. 

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

Talking Points:

  • Baby Boomer Debt Limits Future Reverse Mortgage Market Potential
  • Mortgage Professional group says reverse mortgages a must in product offering mix
  • After divorce a reverse mortgage may help smooth a bumpy road
  • The Massachusetts Mess: Face to Face counseling rule changes

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.

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