Wade Pfau, a professor at the American College of Financial Services, discussed the changing perception of Home Equity Conversion Mortgages (HECM) among financial advisers amidst recent market volatility. He observed that while there has been progress in advisers’ openness to reverse mortgages over the past few years, conversations about their practical use have slowed down lately. Many advisers still recognize the potential benefits of these products, particularly for financing long-term care, but there remains a need for further education and momentum to fully integrate them into financial planning.
Wade Pfau noted that while advisers are more open to reverse mortgages, the overall momentum and usage have slowed recently, needing further education and acceptance.
Pfau highlighted that discussions about reverse mortgages with advisers have decreased, indicating a need for continued work to improve perceptions and implementation of HECM products.
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