Reverse mortgage warning | Shed Connect
ASIC deputy chair Peter Kell says: “Reverse mortgage products can help many Australians achieve a better quality of life in retirement. But our review shows that lenders and brokers need to make inquiries that would lead to a genuine conversation with customers about their possible future needs, not just a set of tick boxes on a form.”
Borrowers have been cautioned that are not getting enough help from lenders or advisers in working out the long-term implications of taking out a revers…
http://www.shedconnect.com/reverse-mortgage-warning/
Peter Mericka B.A., LL.B – Australian Legal Practitioner, Consumer Advocate and Principal of Lawyers Real Estate Pty Ltd and Lawyers Conveyancing – Melbourne – Victoria.
1 Comment
I agree the reverse mortgage looks tempting but how many hidden rocks are there under the surface. It requires a solid consultation before making such decisions.