Reverse Mortgages/Expert Profile

Expertise

Reverse Mortgages are a financial tool available to homeowners of the age of 62 or older. They are not for everyone. Mr. Ross provides responses to questions regarding eligibility, terms, consumer protections, financial requirements, and all other aspects of HUD-sponsored and other private program Reverse Mortgages.

Experience in the area

In addition to my legal and general business experience, I have trained with John Bennett, of Home Lending Specialists, the leading and most experienced originator of reverse mortgages in the country. I have mastered both academic and practical aspects of the reverse mortgage business, with special emphasis on consumer protections.

Education/Credentials

Author, Certified Home Equity Conversion Mortgage Specialist (CHECMS) course, Institute of Consumer Financial Education (ICFE) Bachelor of Arts, Princeton University -- Juris Doctor, Yale Law School -- Accredited Educator in numerous professional disciplines

What do you like about this subject?

Reverse Mortgages are a specialized program that can help seniors continue living in their own homes. They can also be used to help seniors and their families protect their assets and even prevent foreclosure in some cases.

What do you still hope to achieve/learn in this field?

I still hope to learn more ways in which Reverse Mortgages can be used to the advantage of seniors and their families, and to share this information with others.

Something interesting about this subject that others may not know:

Homeowners cannot take out a reverse mortgage until they have received counseling from a HUD-approved counselor. Low income or a poor credit score does not prevent the homeowner from using a reverse mortgage.

Something controversial or provocative about this subject

With a reverse mortgage, regardless of how much the homeowner takes out of the property, the loan balance, including interest, can never exceed the value of the home.