The Never-Ending Campaign in Reverse

After four grueling months of nonstop political ads, it’s election day. The culmination of carefully planned local and national campaign strategies to win the hearts and minds of Americans. Did they? The final vote tally will tell.

In much the same way reverse mortgage professionals are campaigning to win over skeptical homeowners, family members, and financial professionals to understand and embrace a counterintuitive loan- except this campaign never ends.

Winning people over to accept a misunderstood and mischaracterized loan is about building trust and demonstrating value. Here are a few strategies that may help when campaigning for new borrowers.

1. Be transparent and address concerns head-on. Don’t avoid the negatives- embrace them! Ask prospective borrowers what they’ve heard about reverse mortgages. Where did they hear it? What are their misgivings about the loan? Avoiding objections breeds mistrust. Airing them provides an opportunity to overcome myths and common objections and sets you apart as a true professional.

2. Simplify and educate. Make use of... [CONTINUE READING]