I have heard certain lenders/loan officers on this site state to stay away from Reverse Mortgages? I am interested in hearing why some are so against the program? Not trying to bash anyone just looking for an opinion.

Personally I do not feel that it is an ethical/moral mortgage product to sell. Specifically because it targets the elderly. Just like any other product, there is a specific type of client designed for this product, but anytime I have seen it mentioned on this site the client does not fit the mold. This product is very expensive and it can cause a lot of problems if the reverse mortgage client wants to deed the house over to a surviving relative upon there untimely death. The reason being is that in order for the survivor to take ownership of the home they would have to qualify for a forward mortgage to take out the reverse mortgage. This can cause a lot of issues if the survivor is a minor or not credit or income qualified for a forward mortgage. I will leave it with this- make sure if you are doing a reverse mortgage you get plenty of advice from atrusted financial planner and estate attorney to make sure it will not affect anything in the future.

I think it because there is a lack of training on the Reverse Mortgage Market. Once the big 4 bank start pushing it, it will become a viable option.

The single greatest financial program available to seniors today: Reverse Mortgage. For someone to have a "moral issue" to me says they have an "ignorance issue" and are not properly educated. Unfortunately this happens all to often with pre-conceived notions by financial planners and attorneys, too! Designed by HUD under Jack Kemp the current Home Equity Conversion Mortgage (HECM) is the only Reverse Mortgage product available and there are many protective measures in place. Further, what is the biggest asset of most seniors? Home Equity! Any mortgage requiring a payment will result in risk of losing the home. Anyone who understands how a Reverse Mortgage works knows that it is an incredible retirement tool that makes it possible for you to turn home equity into a means of enhancing retirement.