“While I was going to college, I would originate reverse mortgages, but full time since 2009,” Turk said.
He was quick to confront the lingering myth that a reverse mortgage means giving up ownership of your home. “If you own a house, if you have equity in it, reverse mortgaging your home doesn’t mean you’re automatically giving that up,” he said.
Turk said real change happens in person, not on billboards. “You can do all the advertising you want, but until you actually sit down with them and really educate them, that is when the lights really go on.”
Rather than push a product, Turk positions reverse mortgages as a strategic option – one that gains legitimacy when trusted professionals like estate planners and financial advisors embrace it.
Advisors as the missing link
“The more financial planners refer to [reverse mortgages], the more people will overcome the skepticism,” he said. “It’s all about estate planning attorneys, financial planners, trusted advisors. Once they understand the program, they’ll start to utilize the line of credit more.”