NewAustin, Texas — Nov 03, 2014 / (http://www.myprgenie.com) — Book Explores Reverse Mortgage Issues
Mon, 2014-11-03 14:36 — Phil Hall
Reverse mortgages have been around for decades, yet the product still generates more than its fair share of confusion and apprehension.
In an attempt to answer the many questions and concerns surrounding this product, Dan Hultquist, a Certified Reverse Mortgage Professional who serves on the Independent Certification Committee with the National Reverse Mortgage Lenders Association (NRMLA), has authored the book Understanding Reverse: Answers to 30 Common Questions—Simplifying the New Reverse Mortgage. Hultquist has also launched an accompanying blog,www.understandingreverse.com, to further clarify any issues surrounding the product.
Hultquist, who is also opening a Reverse Mortgage Branch of OpenMortgage covering the state of Georgia, spoke with National Mortgage Professional Magazine about his new publishing endeavor.
What inspired you to write this new book?
Dan Hultquist: I found myself answering the same questions, like “what happens to the home when I die?” In addition, I found that answering one question naturally steered the listener to ask predictable follow-up questions like, “what other maturity events cause the loan to be due?” or “does the reverse mortgage stick my heirs with a bill?” The fully-compliant answers to these questions are important to know, but I also feel it is necessary to document the relevant government regulations that apply to each question.