The unfair wax lyrical related to reverse mortgage is a result of the homeowner’s physicalities
After listening to the resentful press relative to reverse mortgage and the truth is that most people chat about the concept very wisftully, I cannot help but guess about whether this is as a result of the maturity of the householders involved. Even though the more suspect refinance loan companies have been swept under the carpet and regarded as a less worthy cause of debate, reverse mortgages are now regulated fully by the Financial Services Authority but always bares loads of petechia about it.
The differences between these two? One is aimed at everybody whilst the other is aimed at over 55’s. This age specific targeting, I believe, has intensified the fuss. Selling to the over 55’s has the same connotations of helplessness that comes with selling fatty food to children.
What riles my self is that in almost every other business or situation; mature homeowners are considered the most wise; the clever owls that many look to for advice and admonition from. So for what reason, when it comes to anything online or many types of financial product, do we treat the over 55’s with children’s mitts! Stepping in like a brave cavalier to cherish them from their own decisions. Do we suggest for one second that they are blindly falling for reverse mortgages like lemmings? No I thought not.