Retirement

Originating: Breaking Down the Firewall 

The evolution of reverse mortgage products, specifically the HECM, seems to have been stalled by the limited applicability and utility of the product in the broader perspective of retirement planning. A major cause of this stall can be attributed to an overreaction to a very limited but very problematic issue of HECM borrowers being coerced into using reverse mortgage proceeds to buy inappropriate financial products. Reverse mortgages have long been portrayed as a solution for house rich but cash poor seniors to have access to additional money to fund their retirement. Detractors and those with limited understanding of the product