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| From Forward Mortgages to Reverse |
| Tuesday, February 26, 2008 |
The last several months have brought bad news for the mortgage industry, primarily due to the subprime implosion, that threatens to take a few institutions out with it over the next few years.
Senator Clinton is talking about a moratorium on home foreclosures that would have some interesting market effects. I doubt however that it would do anything that would lead to a recovery in the housing market. A moratorium would only delay the inevitable and would probably do very little for seniors who are in home with very little equity and home owner who overstated there income to get into the property anyway. This is the group that represents the greatest problem.
There could be some good new however for reverse mortgage lenders and senior citizens that own homes with equity. The moratorium will slow the fall in the housing prices that always accompanies waves of foreclosures.
There are many companies out there that specialize in generating targeted mailings to the senior market and many of them have simple websites that have not been updated because they are so busy connecting senior homeowner 62+ years old with mortgage brokers that can help them generate tax-free income out of the equity in there home.
Targeted mailing is still a great business, particularly with older customer who actually read their mail and spend little time on the internet.
If you are in the reverse mortgage business consider the sites below:
Direct mail reverse mortgage leads
Reverse Mortgage Marketing - TV Leads and Mail Leads
Hopefully, the seniors will be able to offer some local market stimulus. |
posted by Domesticated Dog @ 9:40 AM  |
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