1 minute readMost seniors are not interested in tapping their home equity, and a great many still harbor misconceptions about the loan. A recent study by the Housing Finance Policy Center at Urban Institute revealed this and more in its examination of seniors and their reluctance to utilize home equity. (Read more about this in our Spotlight.)
The study highlights just how important it is for reverse mortgage professionals to continue to spread the word about how home equity can be strategically used to support a smart retirement plan. So many Americans are unaware about how it could help bolster their finances in their later years, held back by fear and misinformation.
HECM specialists must chip away at these barriers one block at a time. One great way to do that? Partnering with other professionals: CPAs, Realtors, financial planners, attorneys and others. Each of these professionals can share the facts with their clients, showing them how a HECM can be used to purchase a home, pay for in-home care or delay draws on Social Security.
In this issue, we outline 12 tips to help originators better connect with other professionals. A reverse specialist who is able to build a solid referral network can elevate their business and help propel the product forward.
