Syndicated real estate and financial columnist Ilyce Glink interviewed NRMLA President & CEO Peter Bell for her weekly web-cast Big Money Real Estate.
The 17-minute interview covered a wide range of topics, including reverse mortgage basics, common misconceptions and recent regulatory changes protecting non-borrowing spouses.
When asked to discuss popular payment options, Bell responded, “Nowadays, the most popular option is to take the line of credit, largely because of the growth feature. But it really depends on the person’s needs and motivations. A couple looking to pay off a sizable mortgage may choose a lump sum to pay off the existing indebtedness, but there are literally hundreds of different uses that people have pursued with reverse mortgages.”