What changed the mind of one Chicago Tribune Columnist?
It is admirable to have strongly-held beliefs. It is even more laudable when one changes their position based on new facts and insight. That’s exactly what happened for one Chicago Tribune financial columnist.
“My views on reverse mortgages have become somewhat more favorable”. This introductory quote leads the Tribune’s recent article “Reverse Mortgages Have Improved, but the Buyer Still must beware”. Like many other financial professionals, columnist Elliot Raphaelson believed that reverse mortgages should only be used as a last resort. A belief that was often codified in financial planning organizations like FINRA, which later removed this phrase from their advisories.
Raphaelson fairly points out a historic and reputation-challenging problem, that many individuals…
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