Good news in recent weeks and over the past month that Reverse Mortgages are showing great signs of growth. As you may recall from our most recent blog spot, “The Good, Bad and the Ugly” that some negative feedback on reverse mortgages was starting to surface and hit the tabloids. As sad as it always is to hear, it is sometimes necessary to hear the harsh realities of the mortgage industry so we have a clear road map on what is wrong and how to tweak or fix it.
As for now, indicators are showing very positive as HUD counseling for reverse mortgages are up 21% from the month of September to now. This will most definitely reinforce the boost in mortgage applications.
With any industry there are peaks and valleys. With the mortgage industry and specifically the reverse mortgage sector it is no different. And right now we are showing a spike or upward trend in counseling and mortgage applications. These are trying times economically and with any senior, whether they are struggling financially or would like to play it a little safer and strengthen their cash flow, they need to have the best plan laid out for them. And if we do this at Green House Mortgage and advise them of how this can work for them, then we are truly helping those in need.
If you have further questions about a reverse mortgage, please contact us by email or by phone. We are willing to sit down with you and guide you through the process and answer any questions you may have. Green House Mortgage – It Pays to Go Green!