“Reverse Mortgage Loans Fit an Important Niche…” Says Columbus Dispatch The reverse mortgage loan has undergone many changes in the past few months, and while some may say it is not worthwhile, despite all the success stories, the reverse mortgage industry will not give up on trying to educate consumers, financial planners, etc. on the benefits of the program. Most importantly, for those who say the reverse mortgage loan is on its way out, Columbus Dispatch says, “reverse mortgages fit an important niche,” and for that very reason alone they will never cease to exist. Even in marketing, and branding your company, they say, “find your niche.” Niches serve a small, but very important part of a certain market. They give you a determined focus and a specific group to appeal to. They exist outside the established norm, in this case, retirement planning strategies, but can be just as worthwhile and advantageous as any mainstream solution. Stephanie Moulton, an assistant professor at the John Glenn School of Public Affairs at Ohio State University stated: “The horror stories are not the norm. The product fits a niche, an important niche, especially as baby boomers retire and don’t have enough savings in retirement. It’s a way for retirees to access equity in their home in a safe manner.” The fact of the matter is, even if borrowers have saved enough for retirement, a reverse mortgage is still an important product to consider. Most importantly, because it is one of the only ways to access the money you have invested for years in your home without having to sell it and move away, especially if a borrower has already decided they want to age in place. A home is where you live, where you form new memories and build a family, but it is also an investment. It’s the equivalent of getting stocks and then not seeing a return investment. Borrowers invest in a home and then can take advantage of the equity they have build throughout their working years to have cash at hand or save it in a rainy day fund. The reverse mortgage loan fits an important niche, and serves a sector of the population that may not have saved enough or may simply want a return on their lifetime investment. Even if it’s as simple as no longer wanting to pay a mortgage during retirement, a reverse mortgage is an option save for selling and moving away from a neighborhood you’ve grown to love. Borrowers, if anything, need to know a reverse mortgage loan is a safe and reliable option if they chose to look into it. Scaring them with endless horror stories, which do not make up even a quarter of the experiences, only prevents borrowers from taking a closer look at a program that may be beneficial for them in the future. It’s an option for retirement planning, if more borrowers, financial planners and other “weary travelers” would look into it, they may be pleasantly surprised. Be aware that while you cannot lose your home under normal circumstances, foreclosure may occur if you do not pay your taxes and insurance and otherwise comply with the loan terms. If you want more information on the reverse mortgage program give PS Financial Services a call at (888) 845-6630 or via email at info@PSReverseMortgage.comWe do not pressure those who inquire. We are simply here to help.