A company that I do business with recently conducted an experiment where they had 88 people do a blind test to compare a traditional Home Equity Line of Credit (product A) to a Reverse Mortgage Line of Credit (Product B).
All that is discussed are the benefits as well as some of the basic differences of each home equity product with no labels, so it is a 100% blind study.
Because I am in the reverse mortgage business, I know that most people unbiasedly look at the reverse mortgage LOC , the benefits far outweigh those of a traditional HELOC, but what surprised me was how overwhelmingly it was chosen.
85 out of 88 people chose the reverse mortgage line of credit over a traditional home equity line of credit.
In the two minute commercial below you’ll see some of the participants reactions.
“That was a no brainer”
“Almost sounds too good to be true”
“I wish I had known about this before”
Please check out the video above and feel free to call me at (303) 467-7821 with any questions.