As a person in the reverse mortgage origination profession, I want to share what I do and what motivates me. In plain English, I help older homeowners realize financial security.
My focus is on learning about my client’s financial details and needs and show them how a reverse mortgage may or may not help them achieve their goals. Typically, there are obstacles to overcome, such as negative perceptions about reverse mortgages. The negative attitudes often are a result of miss-information from news stories reported out of context or ‘something they heard’.
Other obstacles go deeper and involve inheritance and deeply ingrained attitudes about equity. Your plans may have been to give your children a free and clear home. Those plans may have been in place for decades! You may be faced with the choice of making personal sacrifices to preserve that equity for your estate or use this reverse mortgage tool to access the equity to maintain your lifestyle or satisfy your need. No wonder it’s a long process to come to the decision to get a reverse mortgage. And the people I work with who decide not to take out the reverse mortgage, typically leave the topic open to explore at a future date. Such a decision shouldn't be made quickly unless there is an urgent need in which the discovery and education process can be accelerated.
What I have learned in the two decades I have been helping people get reverse mortgages is; everyone has a different set of circumstances, experiences and thought processes. With patience, organization, determination and a positive attitude we can work together to do what’s right. What do I do? I help older homeowners realize financial security.