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10 Ways to Deal with Adversity


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Practical Steps in the Midst of Upheaval

reverse mortgage newsUnless you’ve been living in a magical and perfect world you have recently or currently are experiencing adversity. Relentless and numerous changes to the HECM program, the upcoming Financial Assessment and marketing challenges all can be noted as contributing factors. As career reverse mortgage professionals we are not immune from the hardships these factors present but we can find an effective way to deal with them.

1- Acceptance: The sooner we move from asking ‘why’ we can move forward to the proactive steps we can take to mitigate the outcome.

2- Reaction. We’ve all heard we cannot control our circumstances completely but we can control how we react. We can only contol one person: ourselves. This acceptance of responsibility is freeing as we zero in on how we can choose to respond.

3- Improvement. Challenges and upheaval are painful and unpleasant at best. The silver lining is these hardships give us the opportunity to…

Download the video transcript for this episode here.

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  1. Can one teach an old dog new tricks? In some cases one can but not all. For those of us who are over 35, the likelihood we will handle upheaval any better than we last did is very low.

    Just look at how ridiculously some handled the press about non-borrowing spouses seeking their displacement rights in the courts. Some called them freeloaders and other terms of derision but few stepped forward to support them. Very few read the litigants’ side of the case or even bothered to read the law since they “knew” they were right. They had little idea what the court issues really were.

    Will HUD tweak Financial Assessment as well? If loss in business predictions of over 15% are right, let us hope so. To some of us, the total loss in excess of the targeted violators could be as high as 30,000 endorsements.

    So for the remainder of this decade we should see even more changes both in non-borrowing spouse issues and lender Financial Assessment and if HECM losses continue, even lower principal limit factors to come. (Did I hear someone say Saver v.4?)

    “Don’t worry; be happy!!” Unfortunately in this industry that is a necessity.

  2. very good it is all mental
    it is where you live ,,, you can make it heaven or you can make it hell

  3. Well said, Shannon! Having been through so many challenges in my life (pretty much all except crime and going to jail), when faced with adversity or challenges I remember that I’ve come through them before and anything is possible. I practice many on your list and focus on the positive knowing things happen for a reason and “this too shall pass.” I have many inspirational quotes on my office walls.

    • Beth,

      It sounds like you have good basic life habits.

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