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The Reverse Mortgage PARADOX


The government-sponsored loan that’s ignored

Last week we reported a Consumer Financial Protection Bureau data release finds nearly one million older homeowners are facing potential foreclosure and eviction. The following week the Secretary of HUD sat with the CEO of AARP to discuss seniors aging in place, and senior housing security.

The CFPB report begins with this paragraph. “Since April 2020, the Census Bureau has tracked the number and characteristics of homeowners struggling to make their mortgage payments. As of July 2021, an estimated 682,400 older adults, defined as adults age 65 and older, were behind on their mortgage payments.” Not to be hyperbolic but it’s quite alarming to learn that mortgage delinquencies and homeowners with zero confidence they’ll be able to make next month’s mortgage payment account for nearly 1 million seniors. Such news is not only distressing but should spur the pursuit of all possible foreclosure prevention options.

Surprisingly the CFPB’s report does not mention reverse mortgages a single time.

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Editor in Chief:
As a prominent commentator and Editor in Chief at, Shannon Hicks has played a pivotal role in reshaping the conversation around reverse mortgages. His unique perspectives and deep understanding of the industry have not only educated countless readers but has also contributed to introducing practical strategies utilizing housing wealth with a reverse mortgage.
Shannon’s journey into the world of reverse mortgages began in 2002 as an originator and his prior work in the financial services industry. Shannon has been covering reverse mortgage news stories since 2008 when he launched the podcast HECMWorld Weekly. Later, in 2010 he began producing the weekly video series The Industry Leader Update and Friday’s Food for Thought.
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