Reverse mortgages, alternative equity tapping face educational hurdles
Even in comparison with reverse mortgages, shared equity investments and sale leaseback products are not nearly as well known as the concept of reverse mortgages. This presents a unique difficulty for alternative equity tapping companies to overcome that is decidedly different from the general perception of reverse mortgages in the public.
“For us, the biggest challenge is around awareness,” says Jeffrey Glass, CEO of Hometap. “We offer something that hasn’t really existed (at least not at scale) for homeowners. It can be very confusing for homeowners to understand the difference between an equity investment in one’s home versus something like a home equity loan.”
This article originally appeared on Reverse Mortgage Daily. Read the full article.