Customer Reviews

Reverse Mortgages: What Every Financial Advisor Should Know

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The most facted based book on Reverse mortgages I have read to date. The author is not trying to sell Reverse mortgages, just informing financial advisors about different uses of the product. This book should be required reading for all financial planners and Reverse mortgage originators. As a Reverse mortgage originator myself, I agree that the product is not right for every senior. His educated approach to answer the question, is a Reverse mortgage right for you, is refreshing. Most media outlets use fear and misprecptions to push their opinions, Jonathan Neal uses facts. Maybe he should write a book for journalists.

Quite bluntly there is too much wrong with this book to recommend it to other financial advisors. A substantial portion of the two chapters presenting income tax matters was misleading. The assumptions underlying some examples are not complete. Some of the basic information on reverse mortgages is wrong and is out-of-date. It is obvious the author has some understanding of reverse mortgages but there are holes as well.

For full disclosure purposes, I am not only a CPA with over 40 years in practice with a masters in business taxation (USC), but also a real estate broker for over 19 years, an NMLS Mortgage Loan Originator licensee, a certified senior advisor, and a senior vice president at a reverse mortgage lender.

Mr. Neal states:

"As the popularity of reverse mortgages grows, it is imperative that financial planners not only take the time to educate themselves on how these products work but also prepare themselves to play a significant role in their client's decision-making process when it comes to reverse mortgages."

As a leading-edge Boomer, I have a reverse mortage as part of my financial plan. It allows me to invest the monthly mortgage payments I used to make into my retirement plan.

As a reverse mortgage originator, I am continually dismayed by the misinformation that exists on this important product for seniors.

Jonathan Neal has done both the industry and the public a great service in writing this excellent book!