Why So Many Reverse Mortgage Ads

My buddy Mark Fogarty noted, in his recent column in the National Mortgage News, that the U.S. Census Bureau’s American Housing Survey states that there are:

• 76 million owner occupied homes in the U.S.
• 49 million have a mortgage
• 27 million homes are free and clear
• Seniors own 14 million free and clear homes
• Only 421,000 seniors have a reverse mortgage

Now I know why we are seeing so many reverse mortgage ads on television.  They are the sweetest of the mortgage opportunity sweet spots.