The Secret to Moving Forward In Reverse - Episode 384

Is there any benefit to a reverse mortgage, or are they a scam? Is it a problem that a reverse mortgage has to be repaid when the borrower no longer lives in the home?  Doesn't that eliminate the inheritance that would otherwise go to the kids? Will a reverse mortgage create a deficit to the borrower if it is not repaid? What can you do with a reverse mortgage?  What can you use it for? What is the difference between a reverse mortgage and a HECM? In this week's episode Shawn and George talk to returning guest Michael Banner of www.LetsMoveForwardInReverse.com.  Michael became a licensed mortgage professional in 1982. Approximately 15 years ago his passion took a new direction, as his career became focused on assisting the senior segment of our industry as they approached, or were already in, the retirement portion of their lives. The gift of the "longer life spans" can sometimes be a "double edged sword" and Michael devoted his career to helping seniors with reverse mortgages. Michael is a nationally known speaker and published author, and has performed education classes for more than 20,000 financial planners, independent financial advisors, long term care insurance agents, attorneys and Realtors on the topic of The Use of Home Equity During Retirement. Over the last decade, he has appeared on hundreds of national, local and regional television, and radio broadcasts and his articles on the topic of Reverse Mortgages have appeared in the a variety of industry leading publications and blogs. You can also listen to Episode 120 to hear Michael's first interview on the Reverse Mortgage Industry!   https://yesnerlawpodcast.libsyn.com/episode-120-safely-using-a-reverse-mortgage-with-michael-banner Let us know if you enjoy this episode and, if so, please share it with your friends! Or, you can support the show by visiting our new Patreon page: https://www.patreon.com/crushingDebt  To contact George Curbelo, you can email him at [email protected] or follow his Tiktok channel - https://www.tiktok.com/@curbelofinancialcoach  To contact Shawn Yesner, you can email him at [email protected] or visit www.YesnerLaw.com.