7 Questions That Predict Your Success


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Success. Its definition reaches far beyond our income, position, and responsibilities. For some success is achieving the freedom to live the life they want, while for others it hinges on their professional recognition. Do you want to know if you will be successful in the future? If so, ask yourself these questions. Welcome to Friday’s Food for Thought, brought to you by Open Mortgage, where better is possible.

reverse mortgage news1. Do I share my goals?. We’ve heard for years that sharing our goals helps increase accountability, however, some studies have shown quite the opposite. In a recent TED Talk “Keep your goals to yourself”, Derek Sivers said that sharing your goals can lead to a social reality that tricks the mind into feeling you’ve already met your goal. It boils down to less talking and more doing until after the fact.

2. Am I stubborn?. The world and those around it are constantly seeking to impose its will on you. “The question is whose will does prevail in the end? Stronger will power is the results of…

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How Tech is Transforming Lives

“Don’t disturb me now, I’m doing my online banking”


In 2016, a digitally savvy senior might well say this to her visiting children as she efficiently handles laptop financial transactions that once required a trip to the bank. Second only to email, online banking is extremely popular amongreverse mortgage news Dutch elders, according to a recent survey, which found that 75% of seniors use a computer (desktop or laptop) daily. More than half (57%) use either a smartphone or tablet every day.

Surfing the web is also a popular pastime, with app use far down the list. The researchers posit that the trio of favored digital functions fill a need “for which there are no good alternatives in the analog world.”

The digital answer to dementia 

Indeed, as digital devices and the Internet continue to mature, ease of use and innovation open the door to unlimited possibilities for seniors, such as Echo for dementia, which gives harried caregivers a break by responding much as they would — minus the frustration from endless repetition, because Echo is a device! Echo can:

• Answer simple questions such as, “What day is it?” or “What time is it?”
• Play music and read audiobooks, without any need for complicated controls
• Tell jokes
• Looks up information, e.g., “What’s on TV tonight?”
• Report traffic and weather

Rick Phelps, 63, who has had Early Onset Alzheimer’s Disease (EOAD) since 2010, calls Echo a godsend. He bought one in February 2016, and writes in his blog, “It has afforded me something that I have lost. Memory. I can ask anything and I get the answer instantly. And I can ask it what day it is twenty times a day and I will still get the same correct answer.”

This digital personal assistant can remind someone to take their medication, at the same time every day, once it’s been given this instruction — a great relief for loved ones who worry that post-it notes are no longer effective.

It also gives older adults with mobility issues or health conditions such as Parkinson’s greater control over their environment, and hence more independence.

What the well-dressed senior will be wearing this season

Wearables now go far beyond watches. In the pipeline are Proximity badges (for those who haven’t invested in an Echo, or perhaps are no longer able to use it) and a hip protector belt that contains a folded airbag (yes, really!). This short video describes how motion sensors detect a human fall in progress and deploy the airbag to prevent a hip fracture — possibly saving a senior’s life.

Similarly, this device enables people with peripheral neuropathy, which can make walking difficult, to walk safely again.

Then there are the “unmentionable” problems, such as leaky bowels. One tech innovator is working on a device to predict bowel movements, so someone can be alerted and get to a bathroom in time.

What about people with severe hearing loss or those who are deaf/mute? People who use American Sign Language (ASL) can don these incredible gloves that translate ASL into text and speech, using sensors and Bluetooth processing. It’s the first such commercial sign language translator on the market. As the young inventors state, “We believe access, and inclusiveness, are catalysts for change.”

The accidental tourist redux

Finally, for the adventurous who may not have the financial resources, physical ability, or desire to travel and explore new worlds, there will be armchair travel via a new merged reality: a mash-up of fantasy, technology, biology and 3D. Magic Leap will permit people to travel via MR: mixed reality. Special goggles trick the brain into thinking it is seeing 3D reality. Its creator calls this, “dreaming with your eyes open.” And like many of the visionary wearables for senior safety and communication, it’s still in development — but not that far away, especially if you’re wearing the special goggles.

While your reverse mortgage clients and prospects look forward to these tremendous technovations, they can keep track of the milestones via their smartphones, tablets and laptops — once they’ve finished with email, banking and web surfing, of course.

A Change of Heart in Reverse



What changed the mind of one Chicago Tribune Columnist?

reverse mortgage newsIt is admirable to have strongly-held beliefs. It is even more laudable when one changes their position based on new facts and insight. That’s exactly what happened for one Chicago Tribune financial columnist.

“My views on reverse mortgages have become somewhat more favorable”. This introductory quote leads the Tribune’s recent article “Reverse Mortgages Have Improved, but the Buyer Still must beware”. Like many other financial professionals, columnist Elliot Raphaelson believed that reverse mortgages should only be used as a last resort. A belief that was often codified in financial planning organizations like FINRA, which later removed this phrase from their advisories.

Raphaelson fairly points out a historic and reputation-challenging problem, that many individuals…

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary, and technology? Visit ReverseFocus.com today

What is Conscious Living?


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Six Keys to Intentional Living


reverse mortgage newsWhat is conscious living? It is the intentional practice of creating the life we want through a series of decisions. Perhaps a better way to define this mindset is to describe what it isn’t. Choosing a career based on money alone. Choosing a partner based primarily on looks. Buying a home based on the image you want to project or what others have. Today we will reveal several keys to living a conscious life.

Conscious living is truly the process of creating a custom tailor-made lifestyle. Here are some tips to begin creating your conscious life. .

1. Ask yourself what you want. It’s surprising just how many people either don’t know what they want or are afraid to express their wants, needs, and…

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary, and technology? Visit ReverseFocus.com today

Customer Service, You Say?

True Customer Service is Subtle & Sincere


reverse mortgage newsLast winter, actress Andie MacDowell became embroiled in a minor brouhaha. She was seated in coach on a flight instead of the first class seat she’d paid for, and gosh, it was disheartening to hobnob with the unwashed masses.

At least, that’s how the media spun it. Actually, MacDowell insists, she just wanted to receive the level of customer service she’d purchased.

Customer service seems to be going the way of the landline phone, which is unfortunate — especially in a service business. Yet providing stellar service doesn’t need to be a big deal. Consider these contrasting scenarios:

Heartbreak Hotel?

True service is subtle and sincere.

Many years ago, I took a colleague who was in town for a conference to lunch at Campton Place, a five-star San Francisco hotel. Lunch for the two of us was $30 before tip (about $55 today). My colleague murmured, “I don’t mind paying $30 for a meal like this; it was worth it.” And while the lunch was scrumptious, she wasn’t referring to the food so much as the five-star service: waitstaff who magically refilled water glasses and bread baskets before we even thought to ask, and presented each course with a flourish. The message was clear: there is nothing we would rather be doing than serving you.

Shelley related what had transpired at her own hotel. Her complicated surname was misspelled on her name badge. She asked for a new one. The staff told her, “We’re busy now; come back later.” She did, and the extra badges couldn’t be located. Finally she took a felt tip pen from her purse and redid the badge herself.

I described a similar experience at the library. (This was before Google and smartphones solved our research requests instantaneously.) I needed a single page of information from a reference book at a different location. My librarian verified its availability. When I drove across town to the other branch, the book was in use upstairs. I asked whether the librarian could fax me the page I needed when it was available if I paid for it now, reasoning that it would just take her a minute and would save me another trip across town. “Oh, no,” she replied with a tinge of amazement, “We don’t have time for special requests like that here.”

Service With A Smile

The loan officer who called my attention to the dearth of service in service businesses said, “The lack of good customer service can be a real detriment to future incoming business, and I have always prided myself on doing things the right way. I also taught this as a topic as an adjunct professor at our local college.

“There is a motto that sums it up: ‘Treat People Right’. It is packed with what should be done to preserve your client relationships and grow new ones.”

How do you do this in your reverse mortgage business? It’s easier than you may think. Kissmetrics suggests eight (here are four) fresh customer service ideas that can work for the reverse mortgage industry, such as:

1. Make a video. For senior prospects, seeing a friendly face answer basic HECM questions creates connection before you or they even pick up the phone. This HECMWorld blog post describes how to create a compelling, service oriented reverse mortgage video.

2. Publish reports. Take one of our weekly blog posts that focuses on senior topics, such as this piece on eight ways to transition into retirement, or this one on the value of embracing change, create a brief “report”, and email or snail mail it with a personal note, suggesting your prospect may find the material of interest. This builds credibility, with a warm fuzzy: everyone loves getting personal mail, especially seniors — and especially in the form of a letter they can hold in their hands.

3. Send a personal thank-you note. Like the above, hand-written thank-you notes are so rare you’ll immediately catapult to the head of the class. It takes almost no time to dash off a line of appreciation to the senior prospect or client by name, on your good stationery or on a greeting card.

4. Showcase customer support. Just as people have confidence in 5-star reviews, it pays to show off your customer kudos. If you have a Reverse Focus website, let prospects (and clients) see those client satisfaction ratings and testimonials. As the Kissmetrics blog states, “not only does it help potential customers make a decision, it also helps reaffirm the faith existing customers have in them.”

You have the potential to be a Campton Place in every transaction. All it takes is a firm commitment to client care.

HECMs: A Gotcha Market?



Why the HECM may be a ‘gotcha’ market for consumers

reverse mortgage newsLast week we addressed the divergent relationship between the increasing need of retiring homeowners and the continued decline in reverse mortgage volume. Beyond the potential fallout of future HECM regulations what is hindering market growth?

The need for the reverse mortgage is robust and growing. At the end of last year, there were approximately 24 million homeowners aged 65 or older and this group is growing by one million individuals every year; so says Jack Guttentag, better known as the Mortgage Professor in his latest article “How to unleash the reverse mortgage market”. Despite the fact that more seniors are unable to maintain their standard of living in retirement “the federally-insured home equity conversion mortgage program has barely dented the problem”, said Guttentag. How small of a dent? To date, fewer than one million HECMs have been endorsed since the program’s launch date.

What factors are suppressing the growth of the reverse mortgage while the financial need continues to grow?

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary, and technology? Visit ReverseFocus.com today

Lunch: The Golden Hour


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How to Leverage the “Golden Hour”


reverse mortgage newsYou groggily gulp coffee as you head out the door to your car and jump on the interstate hoping for an uneventful commute. As you enter your office your pulse quickens as your stack of paperwork and voicemail light flashes greeting your return. The unrelenting pace of our workday continues through the early evening hours. In the rush, you most likely missed an important midday appointment: lunch. Welcome to Friday’s Food for Thought brought to you by Open Mortgage, where better is possible.

For most of us, the daily grind of the workweek repeats itself like a broken record. It’s not so much a pessimistic statement but a realization that our days are chock full of repetitive tasks and activities. This regimen will wear any professional down slowly. With this in mind, most of us are missing out a valuable mid-day opportunity to reboot, lunch.

Here are some ways to leverage your daily lunch break for renewal, perspective, and efficiency.

1. Plan ahead. Each Friday schedule your following week’s potential lunch…

Download a transcript of this episode here.

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The Sacred Work of Grief

Beyond Loss into Renewal


I was sharing a table with a stranger at Whole Foods, enjoying an al fresco summer dinner, when two sweet 20-year-olds I know stopped by to say hello on their way into the store. Afterwards, the fellow with whom I was chatting remarked that it’s nice to have friends of different ages. I told him one of my dearest lifelong friends had passed in 2014 at 101, and I still miss her keenly. And then this man I’d been talking with for the better part of an hour said, “My father died a week ago.”revnewal-tree

Wait, what?

Our conversation took a deep dive into death, grief, and healing. He told me his father had been very ill for fourteen months, so his passing was a blessing, and the family, all local, are close-knit. We spoke of aging, how conventional medicine often seeks to prolong life to the patient’s detriment, and the different ways people grieve. Then we said good night. It was an illuminating evening.

The Five Gates of Grief

There are many ways to approach talking about grief, and many ways to grieve, but what most people in Western culture don’t know is that death is just one of grief’s doorways. We’ve touched on the idea of anticipatory grief, such as losing one’s eyesight, and how that might manifest behaviorally. We can also lose people due to conflict and misunderstanding, and these losses can feel like a death.

These other forms of grief, suppressed, can be misdiagnosed as depression — or show up later as chronic disease, says noted psychotherapist and author Francis Weller in The Wild Edge of Sorrow. He elucidates five “gates of grief” and provides tools for navigating these uncharted waters. It is important for reverse mortgage professionals to be aware of these grief gates so you can more fully understand the seniors you serve:

1. First Gate: Everything We Love, We Will Lose. Accepting life’s impermanence helps mediate the pain we experience when someone dear to us dies — and enables us to keep our hearts open in the face of inevitable loss. Illness is part of the first gate, and offers us an opportunity to go deep into life and come through the challenge with an expanded vision of who and what we are. A health crisis in my mid-thirties served as a huge wake-up call, and set me on my path of purpose and service. People who ignore what their health is trying to tell them forfeit this opportunity, as Weller explains with his example of a client who, after a heart attack, wanted to get back to business as quickly as possible. Weller told him, “I’m concerned that you’re going to waste a perfectly good heart attack!” Illness asks much of us, and if we recognize this and answer the call, how we perceive life, loss, and grief can shift dramatically.
2. Second Gate: The Places That Have Not Known Love. Shame, unworthiness and regret can close our hearts to compassion, and almost everyone has experienced them to some degree. These emotions are like a slow trauma that, unresolved, eats away at the soul.
3. Third Gate: The Sorrows of the World. We experience this every time there is an oil spill, or we see a dead animal in the road. Most of us in modern culture suffer from “nature deficit disorder”, and this creates soul loss that we experience as emptiness.
4. Fourth Gate: What We Expected and Did Not Receive. This gate encompasses what we may not even know we have lost. Weller gives the example of participating in an evening community circle among West African villagers, who shared food, drink and conversation as their children wove in and out, welcomed by all. Our equivalent to this nightly ritual is happy hour, which may be how we anesthetize our loss, he says. We have no communal rituals, and we grieve them even as we don’t know what is missing.
5. Fifth Gate: Ancestral Grief. Previous generations lived under great hardship, adapting to American ways and forsaking their traditions, language, culture, and even family “back home.” This grief and loss lingers silently in their descendants, who may feel a bone-deep sadness they cannot identify.

The rest of Weller’s book offers rituals and practices to heal and renew us, and finally a chapter on how to prepare to become ancestors. When we serve this “apprenticeship to sorrow,” we have more of ourselves available to offer in service to the world.

More or Less? That is the Question



A Dispassionate Examination of the HECM

Reality-CheckWe’ve all heard the predictions. The industry will bounce back to 100,000 endorsements per year, the baby boomer wave will spur industry growth, etc. A recent article on CNBC’s website predicts that retiring baby boomers will spark reversemortgage demand. Truth be told, reverse mortgage demand may increase but our industry’s volume will most likely not keep pace with the increasing need of future retirees.

A dispassionate analysis of the reverse mortgage program reveals some striking similarities to the traditional mortgage market. Generous lending guidelines combined with growing consumer demand create a boom to bust cycle. During the mid 2,000’s, the reverse mortgage program gained historic momentum as the product was pushed into the public consciousness. The HECM bubble was fueled by…

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary, and technology? Visit ReverseFocus.com today.