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New Research Shows Retirees Earn Poor Marks for Reverse Mortgage Literacy

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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.