I Love Mortgage Brokering 643: Unlocking Home Equity: The Rise of Reverse Mortgages - Ben McCabe
What if the most powerful tool for helping seniors stay in their homes—and grow your business—is one you’re barely using?
In this episode, I talk with Ben McCabe, founder of Bloom, about how reverse mortgages can help seniors stay in their homes—and how brokers can use this tool to serve more clients and grow revenue. We break down the top use cases, where to find deals, and how to explain the product with confidence.
If you’ve ignored reverse mortgages as too niche or complex, this conversation will change your perspective.
In this episode, we’ll cover:
- Identifying the Right Clients: How to spot the three most common reverse mortgage use cases—cash flow help, retirement income, and living inheritance.
- Unlocking Opportunities in Your Existing Database: How to filter for high-potential clients using LTV, age, and renewal dates.
- Building New Referral Sources: How to tap into overlooked networks like financial planners, family lawyers, and home care providers.
- Addressing Misconceptions: Tools and talking points to counter outdated beliefs about equity loss and cost.
- Using Bloom’s Tools to Close More Deals: Financial illustrations, cash flow comparisons, and client-ready info packs that simplify the conversation.
To connect with Ben, you can check out the links below:
Follow me on Instagram: www.instagram.com/scottpeckford/
I Love Mortgage Brokering: www.ilovemortgagebrokering.com
Find out more about BRX Mortgage: www.whybrx.com
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I Love Mortgage Brokering is in partnership with Ownwell.
To see how top brokers are keeping clients engaged and generating leads from their database, visit ownwell.ca.