
38% of Married Homeowners have Roommates?
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Housing Statistics, Real Estate News
admin - Tuesday February 12, 2019
38% of Married Homeowners have Roommates?
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Fake news! Frank & Brian, come on! Big difference between 38% and .5%-2.5%. The premise of this video is flawed. It’s as ridiculous as your ‘You gotta be selling reverse mortgages’ pitch. Did you know that if you met 10,000 people last year, statistically only one of them got a reverse mortgage! That compares to 1 out of every 25 people who got a traditional mortgage. Revenue per loan has dropped about 40% to about the same as a traditional mortgage. Your borrowers will be deluged by trigger lead companies, sales cycle often measured in years with little opportunity for repeat business, and unfortunately due to the stigma many still attach to the reverse mortgage, borrowers rarely refer their friends. It’s a good product but a much tougher road than traditional mortgages better left to the specialists.
I’d say many current and/or future homeowners need to learn to live below their means, and budget their finances… I see so many bank statements where they are spending $6-$10 a day on over priced coffee, going out to lunch every day and spending $15-$25, and then out to dinner that night for another $20-$50…. Oh, and they have to have that new car with a $650/month payment…. But they wonder why they cant save any money…
I think the 3rd wheel is mom, grandma or adult children
buying out the spouse is not considered cash out, you guys are getting rusty.