Reverse Mortgage Marketing is making a Comeback.
The recent press regarding Reverse Mortgages is giving the product quite the boost.
Many financial planning experts are coming on board. They are explaining how Reverse Mortgages work into an individual’s coordinated retirement strategy. With the advent of program changes and consumer protections, Reverse Mortgages are poised to become a force in the next few years.
Depending on the specific Reverse Mortgage product, Mortgage marketers looking to increase their Reverse Mortgage business can mail to:
- Actual Reverse (HECM) mortgage holders
- Reverse Mortgage Prospects – Homeowners, Age 62+ with Equity in their homes.
According to a recent article in Investment News, by 2050, there are expected to be a million centenarians in the United States. And even those who don’t reach 100 have a good chance of living well into their 90s.
Surveys show that people are not saving enough money for even the current life expectancy. Many people are not properly planning with those advanced ages in mind.
A 55-year-old couple planning to retire at age 65 can expect total lifetime health care costs to be $463,849. This includes premiums and out-of-pocket costs. This is according to the Retirement Health Care Cost Data Report issued by HealthView Services, a retirement health care planning firm. That’s a huge number.
Bottom line, many retirees are facing challenges in terms of their retirement savings. Many retirees will be not be able to make their nest egg last long enough for them to enjoy the retirement they envisioned. For many seniors, taking out a reverse mortgage will help them face their golden years.
For mortgage brokers, reverse mortgage marketing is a great option.