Dave Ramsey was at a loss for words until...

Dave Ramsey was at a loss for words until…

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EPISODE #781

Dave Ramsey was at a loss for words with one caller until…

[Money Wise ] A 70-year-old called Ramsey Solutions and seemingly had Dave Ramsey stumped until he learned they had this asset…and no, it’s not a reverse mortgage

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Editor in Chief: HECMWorld.com

As a prominent commentator and Editor in Chief at HECMWorld.com, 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.

Readers wishing to submit stories or interview requests can reach our team at: info@hecmworld.com.

4 Comments

Larry Melton
July 3, 2023 at 8:10 am
Great episode Shannon. Sadly Mr. Ramsey is uneducated on the benefits of a reverse mortgage when it is used correctly.
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- Shannon HicksModerator
  July 3, 2023 at 8:21 am
  Thank you, Larry. A very good point indeed.
  
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The Positive Realist
July 3, 2023 at 9:37 am
A reverse mortgage is an asset to the investor not a borrower.

Just because Dave does not fall over backwards upon hearing the name reverse morthage invoked does not make him a bad guy. My dad hated them as well and he was also paid to give financial advice. It seems in this industry if you hate reverse mortgages you are the worst SCUM on the face of the earth. That speaks well for our tolerance!!!
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- Tom Caruthers
  July 9, 2023 at 4:42 pm
  Dear Positive Realist (Whomever you are),
  
  I missed the part where someone said Dave Ramsey is a bad guy; was that in this report somewhere?
  
  Dave has done a brilliant job promoting himself. But he doesn’t have all the answers, though he infers that he does.
  
  If you listen to the podcast where he advises people to sell one of their cars to help make ends meet, that should tell a story. It appears this couple could be a prime candidate for a Reverse Mortgage, but Dave Ramsey refuses to even acknowledge that option may exist.
  
  If you were a medical scientist who had developed a vaccine to cure the common cold, wouldn’t it frustrate you to hear doctors continue to prescribe antihistamines, or aspirin? What you’re calling “intolerance” is more like “frustration” for those of us in the industry who are confident in the value of the RM for some people, but are not given the option by people who brand themselves as experts in the field.
  
  For you to state that a RM is only an asset to the investor and not the borrower, is proof you don’t understand the value of tapping into a dormant resource when there are few, if any, viable options.
  
  Tell Dave all of us Reverse Mortgage pros say, “Hi”. And, if he’d ever like to invite a Reverse Mortgage professional onto his radio show, to debate the benefits of the program, I’m sure there are hundreds who subscribe to HECMWORLD who would be happy to accommodate him.
  
  Regards,
  
  Tom Caruthers
  My Reverse Mortgage, Inc. (nmls#2503268)
  
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