The degrading stories related to hecm reverse mortgages is down to demographics the homeowner’s physicalities
After taking note of the acrimonious stories relative to reverse mortgages and the truth is that most of them talk about the idea very tentatively, I cannot help but guess whether this is because of the age of those taking out home reversion. Even though the more mischievous refinancing firms have been swept underneath the rug and dismissed as a less worthy reason of debate, reverse mortgage information is now entirely seen to by the FS Authority yet always has stigma encircling it.
The difference between these two? One is targeted at everybody and the other is aimed at over 55’s. It is this age based aiming that, I believe, has conjured the hoo-ha. Aiming at the 55+s has the same connotations of vulnerability that comes with promoting fatty products to kids.
What agitates me is the fact that in most other business or circumstance, mature people are considered the sage of the world