But what happens when the media is against you?Well, it will probably be the worse thing that can ever happen to you, especially when everyone jumps on the bandwagon. You know how they say “there’s no such thing as bad publicity”?
I’ve been fighting off bad publicity in my business for years. From news reports on ABC News that detail horror stories of the reverse mortgage to New York Times articles that start with, “the very loans that are supposed to help seniors say in their homes are, in many cases, pushing them out.” It’s an uphill battle to try to create an reputable image when so many media outlets are constantly taking a stab at you, however, the results speak for themselves. My confidence in the reverse mortgage program is great, so much so, that I did it for my own grandparents. The truth of the matter is the reverse mortgage program is an available option for many homeowners–62 years of age or older, who live in their primary residence and have enough equity in their home–who are in financial hardship because of the recent recession. In February article by the New York Times, which discussed the affect of the recession on recent graduates, working adults and retiring seniors, retirees were the age group hit the hardest. While a graduate still has plenty of years to look for their “dream job” and their parents still have plenty of years to start saving for the future (if they are cautious about their future that is), retirees have no place to turn. They have yet to receive social security and Medicare, which are slowly drying up, but they can’t retire because they still need steady incomes to pay off mortgages and other expenses (unexpected or otherwise). The future is bleak for some retirees but the reverse mortgage program can help. Theoptions available to senior homeowners are plenty and the adaptability of the program itself is incredible. The problem arises when negative stereotypes in the media grow while success stories get pushed off to the side. One example is the National Reverse Mortgage Lenders Association (NRMLA) who responds to every “negative or inaccurate article, broadcast, report.” They’re not hiding but the spotlight isn’t on them. It’s time to do the research and investigate the reverse mortgage program for yourself. The information is there, all you have to do is look. The great thing about the internet is that there is little you can hide. If you think a reverse mortgage is right for you, or are still on the fence, give PS Financial Services a call at (888) 845-6630 or email us at info@PSReverseMortgage.com. We do not pressure those who inquire, we are just here to help.