If you're like many of the reverse mortgage originators I've heard from this week, you're feeling a bit beaten up. Yes, we are about to experience a reduction in the principal limits for our clients. Yes, in some areas property values are making it tough to get some of your transactions done. It seems as though we are fighting an uphill battle right now. Makes you think about throwing in the towel and moving on to something else, right?
Wrong. This is the time when our seniors need to know that we believe in this product and we are not going to walk away just because we hit a bump in the road. You know what I mean even if you're having a hard time admitting it right now. We are a different breed. We got into this reverse mortgage business because we knew the product could change people's lives and we wanted to play a part in it.
I was speaking yesterday with one of the many professionals I network with on a regular basis, an in home health care professional. These folks are interested in the topic of reverse mortgages because this is one of the best ways for them to keep a client (think private pay) who is running low on funds and may have to cut back on services.
She reminded me how much the reverse mortgage had helped some of her clients. Get out there this week and meet an in home care provider and educate that person on how the reverse mortgage can help their business.
Use this same strategy with other senior oriented professionals and keep the positive message moving forward. The reverse mortgage business will continue to evolve as is grows and we need to be able to adapt.
Maybe we are being tested, just a bit, but we can all work together to continue to serve the senior population with this fantastic program that truly changes the lives of our customers.
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