People respond to reverse mortgage offers when they get them at the right time. Reverse mortgage marketers who target the right audience with an appropriate reverse mortgage offer will motivate prospects to find out more about the program they are offering.
Reverse mortgages play an integral role in helping older adults age in place, enabling seniors to unlock wealth stored in an otherwise illiquid asset. For seniors who own their homes, home equity offers a potential source of capital for much-needed home modifications that will enable them to continue living in their property even as their physical abilities change. Marketers who focus on this and use these as part of their reverse mortgage offer see solid response.
The truth is, that by 2030, Americans age 65 and older will represent more than 20% of the U.S. population, up from 14% today, according to a new report released Monday by the Bipartisan Policy Center (BPC).
The report, “Healthy Aging Begins at Home,” was developed over the past year by the BPC’s Senior Health and Housing Task Force and offers several policy recommendations focused largely on the integration of both housing and health care services and supports.
Henry Cisneros, Task Force co-chair, who formerly served as secretary for the Department of Housing and Urban Development from 1993-1997 during the Clinton Administration, is advocating how reverse mortgages can be a creative, yet critical component to solving the aging in place crisis the U.S. currently faces.
Because of this, bipartisan policymakers are recommending several initiatives aimed at improving the ability to age in place for millions of Americans, including the creation of a new, lower-cost reverse mortgage product.
Using the right Reverse Mortgage offer will make this product even more important to older homeowners than they are now.