Open Reports

After taking note of the bad news related to reverse mortgages and the fact is that most people chatter about the idea very wisftully, I cannot help but wonder about whether this is because of the maturity of the homeowners involved. Whilst the much more rogue refinancing loan firms have been brushed under the moroccan rug and dispelled as a less-worthy reason of upset, reverse mortgage is now regulated fully by the FSA but always bares lots of stigma about it.

The discrepancy between the duo? One is aimed at everyone and the other is pointed to 55+s. This age specific targeting, I believe, has initiated the unfavourable press. Selling to the 55+s has the same images of vulnerability that arises with promoting unhealthy food to children.

What concerns myself is that in almost every other industry or circumstance, older householders are thought of the most clever; the clever owls that most look to for help and warning from. So for what reason, when it comes to anything internet or many types of financial product, do we regard the 55+s with child gloves! Stepping in like a valiant knight to save them from their own decisions. Do we suppose for one minute that they are blindly falling for reverse mortgages like lemmings? No, I didn’t think so.