Evolution Of Reverse Mortgages Make Them Easier To Promote – National Mortgage Professional Magazine

Financial planners are now finding it much easier to recommend reverse mortgages after the evolution of the product.Evelyn M. Zohlen, certified financial planner, founder of Inspired Financial and chair of the Financial Planning Association, discussed the evolution of the product during a recent Reverse Mortgage Dailypodcast.

"The last 17 years have brought pretty significant changes In the reverse mortgage and home equity spaces in some really positive ways," Zohlen says. "There have been bumps in the road on that journey, but I would say in the past five years we have seen more positives than bumps."

The product has become more transparent, costs associated with it are better to understand and the usage of the product is easier to explain, according to the report.

"Theres also been a better understanding of how a reverse mortgage does not have to be the solution of last resort, but may actually help the client if its incorporated into their planning process earlier," said Zohlen.

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Evolution Of Reverse Mortgages Make Them Easier To Promote - National Mortgage Professional Magazine