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EPISODE #781
Dave Ramsey was at a loss for words with one caller until…
[Money Wise ] A 70-year-old called Ramsey Solutions and seemingly had Dave Ramsey stumped until he learned they had this asset…and no, it’s not a reverse mortgage
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4 Comments
Great episode Shannon. Sadly Mr. Ramsey is uneducated on the benefits of a reverse mortgage when it is used correctly.
Thank you, Larry. A very good point indeed.
A reverse mortgage is an asset to the investor not a borrower.
Just because Dave does not fall over backwards upon hearing the name reverse morthage invoked does not make him a bad guy. My dad hated them as well and he was also paid to give financial advice. It seems in this industry if you hate reverse mortgages you are the worst SCUM on the face of the earth. That speaks well for our tolerance!!!
Dear Positive Realist (Whomever you are),
I missed the part where someone said Dave Ramsey is a bad guy; was that in this report somewhere?
Dave has done a brilliant job promoting himself. But he doesn’t have all the answers, though he infers that he does.
If you listen to the podcast where he advises people to sell one of their cars to help make ends meet, that should tell a story. It appears this couple could be a prime candidate for a Reverse Mortgage, but Dave Ramsey refuses to even acknowledge that option may exist.
If you were a medical scientist who had developed a vaccine to cure the common cold, wouldn’t it frustrate you to hear doctors continue to prescribe antihistamines, or aspirin? What you’re calling “intolerance” is more like “frustration” for those of us in the industry who are confident in the value of the RM for some people, but are not given the option by people who brand themselves as experts in the field.
For you to state that a RM is only an asset to the investor and not the borrower, is proof you don’t understand the value of tapping into a dormant resource when there are few, if any, viable options.
Tell Dave all of us Reverse Mortgage pros say, “Hi”. And, if he’d ever like to invite a Reverse Mortgage professional onto his radio show, to debate the benefits of the program, I’m sure there are hundreds who subscribe to HECMWORLD who would be happy to accommodate him.
Regards,
Tom Caruthers
My Reverse Mortgage, Inc. (nmls#2503268)