Podcast E633: Reverse mortgages have a new appeal thanks to low interest rates

by Shannon Hicks
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| August 31, 2020

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Show Summary

Thanks to historically low interest rates, reverse mortgages have new appeal for people in or nearing retirement who need cash but can’t afford monthly payments on a loan.

“With retirement, low interest rates usually make everything worse. They make retirement more expensive,” said Wade Pfau, a professor at the American College of Financial Services. “The reverse mortgage is the only tool I’m aware of that benefits from low interest rates.”

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Editor in Chief: HECMWorld.com

As a prominent commentator and Editor in Chief at HECMWorld.com, Shannon Hicks has played a pivotal role in reshaping the conversation around reverse mortgages. His unique perspectives and deep understanding of the industry have not only educated countless readers but has also contributed to introducing practical strategies utilizing housing wealth with a reverse mortgage.

Shannon’s journey into the world of reverse mortgages began in 2002 as an originator and his prior work in the financial services industry. Shannon has been covering reverse mortgage news stories since 2008 when he launched the podcast HECMWorld Weekly. Later, in 2010 he began producing the weekly video series The Industry Leader Update and Friday’s Food for Thought.

Readers wishing to submit stories or interview requests can reach our team at: info@hecmworld.com.