The reverse home mortgage loan is a popular financial tool for people who are living in the United States today. There are also several other countries where the reverse mortgage loan has grown in popularity in recent years (with India and Australia topping that list). Now we are starting to see the reverse mortgage loan creep in to other parts of the world as well.
The most recent report of the reverse mortgage launching in a foreign country comes from Romania. A company called HILD Management which is based in the United States has entered the Romanian financial market to offer what is basically a reverse home mortgage to seniors living there who are "asset rich but cash poor".
Some people believe that the reverse mortgage loan is a bad loan that preys upon seniors and are therefore upset to see that the reverse mortgage is coming to other parts of the world. However, the reverse mortgage loan has helped a large percentage of seniors in the United States and there are people living in countries like Romania who would like this help as well.
Question of the Day: Is it a positive thing or a negative thing that U.S. lenders are bringing the reverse mortgage loan to other countries?
