For the next few weeks, Broker Universe will feature some of our favorite Sue Haviland columns from the past year.Seems like more often than not, the stories you see in the media about reverse mortgages are, well, less than complimentary. Let's face it they are down right ugly. Seniors are cautioned to be extra careful and our segment of the industry is labeled as the next subprime crisis. Gimme a break.
I'm all for a senior being fully informed and making a decision based on what is best for him or her. In fact, I suggest that seniors research any alternatives to a reverse mortgage and consult with family members in order to make the best possible decision. But are some seniors being unnecessarily scared away from a product that could truly enhance those "golden years?" I think the answer is a resounding YES.
Where are the stories about reverse mortgages that have saved a senior from foreclosure or allowed an elderly gentleman to live out his final years in the home he loved? What about seniors who have recently been laid off or experienced the untimely death of a spouse and are facing difficult decisions?
I know many readers of this column have spent time with a senior listening to their story and hearing the many challenges they face. The reverse mortgage can be the safest and in some cases, the obvious choice. There are so many of us out there helping our seniors week after week and we need to tell our story and tell it often.
I'm asking for a bit of participation here as I do from time to time. Post a response to this piece and tell me and the other readers about a unique circumstance where the reverse mortgage has enabled a senior borrower to either meet a goal or solve a dilemma. And don't stop here - tell the story in your community, to your local media, etc. Your story just may convince a senior who needs your help that this product and you as the reverse mortgage professional really are the answer. Continue to be the good guy.
Sue Haviland is a reverse mortgage consultant in Baltimore and the founder of Reverse Mortgage Success, a leader in the training and education for originators around the country in the rapidly growing reverse mortgage arena. Ms. Haviland has worked in the lending industry since 1981. She has been originating reverse mortgages for the last six years and still originates loans every day. She has helped hundreds of families all over the country in the last several years. Sue also shares her knowledge of this market in presentations before the Women's Council of Realtors, Mortgage Bankers Association, National Association of Professional Mortgage Women, and SRES - Senior Real Estate Specialists, Brian Sacks' Insider Seminars, as well as the public. Sue is a Certified Senior Advisor and is active in many professional organizations. Sign up for her free 7-part mini-course at
