In an economy dominated by consumer debt and doubt, the principle of healthy skepticism has snowballed into an avalanche of outright paranoia. The market has proven itself far flimsier, far more fickle than we’d hoped, and in the wake of its wavering reliability, many people are choosing to hold fast to their funds and equity rather than risk the unpredictability of weighty financial decisions. In the wake of our floundering economy, reverse mortgages as well as countless other major financial commitments are not even considered for their merit.
Enter accomplished actors Pat Boone, Fred Thompson, and Robert Wagner. They’ve been making noise, news, and movies for many years now, each in his own respective sphere. But recently, all three have come together in a common cause, becoming spokespersons for reverse mortgages and their benefits. They’ve offered their celebrity to bring credibility to a financial opportunity that, under proper circumstances, could be a godsend to seniors faced with foreclosure, mounting medical expenses, or a myriad of other financial ailments.
A far cry from the classic hollow celebrity endorsements, these gentlemen are promoting awareness and education so that seniors can know their options and make responsible decisions with their equity. Boone defined his goal as spokesperson, “…to assist… in an effort to reach and educate seniors about the benefits of reverse mortgages so that they are able to make better informed financial decisions.” Both Wagner and Thompson similarly echoed his sentiments in their own statements.
Bear in mind, they aren’t trying to discourage that healthy skepticism; loans of any kind can be tricky business, and it’s crucial to know exactly what you’re getting into and how it complements your situation. Reverse mortgages are no exception to the rule, but they’re also not the scams that some skeptics make them out to be. They’re very serious commitments of capital, but when used properly, they can be incredibly beneficial to seniors seeking to tap into their equity without sacrificing their homes.
It’s true that the market is fickle, and its eccentricity seems to have a taste for utter ruthlessness. And consumers, quite reasonably, have become very conservative and very wary with their finances. But our triad of actors has come to remind us that paranoia is no substitute for education and well-balanced planning. If you’re a senior with untapped equity, perhaps a reverse mortgage would be a wise decision for you. Or perhaps not; every situation is different.
But Boone, Thompson, and Wagner are not coaxing consumers into taking out irresponsible loans. Rather, their counsel urges the courage and good sense to at least explore the financial options and find out both their benefits and limitations. Even if a reverse mortgage doesn’t seem sensible now, it can’t hurt to know more about it. There’s nothing to lose and knowledge to gain. And in an unreliable market like ours, knowledge sure can’t hurt.
Article Source: http://www.articlesbase.com/mortgage-articles/boone-thompson-and-wagner-proponents-for-reverse-mortgages-4675206.html
About the Author
Legacy Reverse Mortgage is here to help! We provide the best reverse mortgage service in the industry – hands on help with your reverse mortgage!