After hearing the bad news relative to a reverse mortgage and the reality is that most of them talk about the concept very tentatively, I cannot help but guess about if this is because of the age of the householders involved. Furthemore the more rogue firms have been brushed underneath the rug and dismissed as a less worthy cause of upset, reverse mortgage is now entirely seen to by the authorities yet still carries lots of bad feelings about it.
The defining characteristics of the two is that 1 is targeted at everybody whilst the other is pointed to over 55s. It is this age-specific targeting that, I believe, has created the hoo-ha. Selling to the over 55’s has the similar images of vulnerability that comes with promoting fatty foods to children.
What concerns my self is the fact that in every other market or situation, mature people are considered the most clever; the clever owls that many look to for help and warning from. So why is it the case, when it happens to be anything online or any type of financial product, do we treat the over 55’s with child mitts! Interjecting like a valiant knight to cherish them from their own selves. Do we really believe for one minute that they are stupidly tripping in the dark. No, I didn’t think so.