The unfair word related to HECM reverse mortgage is a result of the applicant’s age
After hearing the resentful press relative to reverse mortgage lenders and the reality is that most people chat about the idea very cautiously, I cannot help but wonder about if this is as a result of the age of the householders involved. Furthemore the more suspect refinance mortgage corporations have been hidden beneath the rug and regarded as a drossy reason of debate, reverse mortgage is now fully regulated by the FS Authority yet still carries lots of petechia about it.
The differentiating characteristics of the two? One is aimed at everyone and the other is aimed at over 55’s. It is this age based targetin that, I reason, has created the hoo-ha. Targeting the over 55’s has the similar coloring of vulnerability that comes with selling unwholesome products to under 18s.
What riles myself is the fact that in every other business or position; elder householders are thought of the wise ones of society