New Research Shows Retirees Earn Poor Marks for Reverse Mortgage Literacy
Jamie Patrick Hopkins
In the reverse mortgage industry, it isn’t too far of a stretch to attribute a lack of awareness and understanding to the miniscule penetration rate of eligible American homeowners who can benefit from a Home Equity Conversion Mortgage, but don’t because they either know little about the product or they are guided by misinformed perceptions.
Consumer ignorance traps reverse mortgages within a vicious circle, where a lack of knowledge often feeds into common misperceptions of the loan product and, ultimately, hinders the willingness to learn more about the true functions of HECMs.
Oliva, Jason, "New Research Shows Retirees Earn Poor Marks for Reverse Mortgage Literacy" (2016). In the News. 1281.