“Reverse mortgage not good for someone my age?”

“Reverse mortgage not good for someone my age?”



When I originally got an email from my client my immediate reaction was…well I guess I better not say. This client is 45, not close to qualifying for a reverse mortgage.


I started thinking that this person isn’t being stupid the person just doesn’t know. They may see an ad that talks about not having a mortgage and that sounds like a really good idea. Every ad I have ever seen indicates that you must be at least 62 years of age.

As human beings we often see what we want to see and hear what we want to hear. This was a good example.


I let Michelle know that she is much too young and will need to wait a few years but I also let her know she will get there soon enough without hurrying.


How would you have handled the response?


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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com



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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

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Comment balloon 29 commentsJoe Petrowsky • November 10 2015 06:24AM


 Good Sunday morning Joe. I do have to agree with you. We all have some filters that make us hear what we want to hear.

Posted by TeamCHI - Complete Home Inspections, Inc., Home Inspectons - Nashville, TN area - 615.661.029 (Complete Home Inspections, Inc.) almost 5 years ago

You're right...sometimes we hear what we want hear and see what we want to see.  Great response.

Posted by Debbie Gartner, The Flooring Girl & Blog Stylist -Dynamo Marketers (The Flooring Girl) almost 5 years ago

Good morning Joe. Sometimes people want to believe there is a free lunch! It is never free. enjoy your day.

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) almost 5 years ago

I'd be very careful telling a woman that she will reach 62 "soon enough", Joe.  Some ladies don't take kindly to that kind of talk.  

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) almost 5 years ago

Hi Joe.  It sounds like she wouldn't qualify for a conventional mortgage.

Posted by Conrad Allen, Webster, Ma, Realtor (Re/Max Professional Associates) almost 5 years ago

Advertising often makes things sound attrctive that are not the right fit at the right time...good explanation  for her.

Posted by Sally K. & David L. Hanson, WI Real Estate Agents - Luxury - Divorce (EXP Realty 414-525-0563) almost 5 years ago

Good morning Joe Petrowsky ,

This just shows you many have selective hearing..key words is what they hear. Good explanation for this lady!

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker Realty ~ 512.750.6899) almost 5 years ago

Good morning Joe.  Not all people process the information the same way.  Selective hearing is what I call it.  

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty) almost 5 years ago

You handled it the right way Joe, but I'm not the least bit surprised.

Posted by Roger D. Mucci, Lets shake things up at your home today! (Shaken...with a Twist 216.633.2092) almost 5 years ago

Nothing like planning for the future, Joe! 62 will arrive fast enough for this young lady and she will wonder where those 20 years went!

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (Coldwell Banker Realty) almost 5 years ago

Joe, I have some asking about this loan also when they are not old enough. 

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (House to Home, Inc. - Denver Real Estate - 720-231-6373) almost 5 years ago

Joe Petrowsky I'm of the school of thought that you don't talk about age with a middle-aged woman. She is very sevsitive about such talk. Now the really young and those our age don't care as much. But still be careful.

Bill Roberts

Posted by Bill Roberts, "Baby Boomer" Retirement Planner (Brooks and Dunphy Real Estate) almost 5 years ago


It is the answer I would have given.  However, it also shows how those ads don't make things explicit enough, and people hear what they want. A

Posted by Ron and Alexandra Seigel, Luxury Real Estate Branding, Marketing & Strategy (Napa Consultants) almost 5 years ago

And if she is financially responsible she might even be able to pay off her mortgage by the time she is 62 and eligible for a reverse mortgage. 

Posted by Kathleen Daniels, Probate & Trust Specialist, Probate Real Estate (KD Realty - 408.972.1822) almost 5 years ago

I think your advice that she will be older enough soon enough is great.

Posted by Debbie Laity, Your Real Estate Resource for Delta County, CO (Cedaredge Land Company) almost 5 years ago

Joe, as always, you gave sound advice... and when she is ready, she will call you.

Posted by Rebecca Gaujot, Realtor®, Lewisburg WV, the go to agent for all real estate almost 5 years ago

Joe you handle it correctly.  I am old enough for a Reverse Mortgage and would gladly trade places with her is she wants to ....... LOL

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) almost 5 years ago

Hello Joe Petrowsky 

You handled it perfectly, as always.  And, I am cracking up at Gabe Sanders comment...

Posted by Lisa Von Domek, ....Experience Isn't Expensive.... It's Priceless! (Lisa Von Domek Team) almost 5 years ago

People who are frantic for dollars will grasp at what ever they see or hear to try.  That is a person that needs to address other issues as well.

Posted by Ed Silva, Central CT Real Estate Broker Serving all equally (Mapleridge Realty, CT 203-206-0754 ) almost 5 years ago


The needed to good advice that you offered them.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) almost 5 years ago

It is sad hearing the wrong information people get these days Joe. I am glad you are there to set the client straight.

Posted by Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917 (Coldwell Banker) almost 5 years ago

In our business, I believe it's all about educating! So many of us rely on each other, because we know OUR niche, but may not know a certain other part of our business. That's why we have each other. I rely completely on my financial person to lead me. I know what I KNOW in my niche, but not his part of it--so I ask! 

Posted by Gayle Rich-Boxman Fishhawk Lake Real Estate, "Your Local Expert!" 503-755-2905 (John L Scott Market Center) almost 5 years ago

Joe, You gave her good advice. People do not pay attention to what they say in commercials .

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) almost 5 years ago

Joe, I would tell her that reverse mortgages are not the way to go and have her sit down with a good financial advisor to sort out her finances!  I have seen an incredible number of these reverse mortgage homes go into foreclosure.  

Posted by Ginny Gorman, Homes for Sale in Southern RI and beyond (RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate) almost 5 years ago

Your callers can alway s count on receiving good advice.

The majority of real estate agents are unable to provide correct advice on reverse mortgages.

Posted by Roy Kelley (Realty Group Referrals) almost 5 years ago

Joe, eligibility for a reverse mortgage and Medicare - something to look forward to!

Posted by Patricia Kennedy, Home in the Capital (RLAH Real Estate) almost 5 years ago

At that age, Joe Petrowsky,  I thought it was either going to be a loan for a parent or you were going to work out a refinance because she needed funds.   

Posted by DEANNA C. SMITH CERTIFIED MOBILE NOTARY, Highest Ranked Certified Mobile Notary in Virginia (Certified Mobile Notary Signing Agent) almost 5 years ago

Joe - sounds like she can really use your help if she is already looking for a reverse mortgage at that age.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) almost 5 years ago

Your right, Joe, she just didn't know and as you said she will get there sooner than later. I can't believe I qualify for a Reverse Mortgage.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) almost 5 years ago