Book Review - Piggy Bank Your Home Tap Into the Power of a Reverse Mortgage
Written by Sherry B. Apanay Friday, 18 September 2009 16:44
Written by Dennis Haber, Esq
Reviewed by Sherry B. Apanay
Upon opening the book the first impression is one of “simplicity” and when tackling such a complex product designed for older homeowners, that “simplicity” offers great insight. The concept of a reverse mortgage is really not that hard to explain or understand but it’s the details that can get you! For that reason, the layout of Piggy Bank Your Home is genius.
Part 1 provides an extensive overview of the basic concepts of how a reverse mortgage works. Additionally, and perhaps most importantly, it advises older homeowners to carefully review all options available and to “take their time”, enlist trusted advisors and consider carefully the suitability and appropriateness of the reverse mortgage as it applies to them. Piggy Bank Your Home is written in a way that will empower older homeowners with confidence if or when they decide to explore a reverse mortgage as a solution to their needs.
Part 2 provides easy to understand answers to a very comprehensive list of questions. Mr. Haber remarks, “Some clients have said they don’t know what to ask!” I, for one, can understand that! There are so many details to consider and having a list of 52 questions outlined for you with the answers is priceless.
Part 3 provides great insight into our industry, its evolution and survival. Piggy Bank Your Home should be required reading for every loan officer interacting with senior borrowers and it certainly should be the first choice for any older homeowner or anyone researching solutions for aging loved ones.
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