Is the word mortgage bad for reverse mortgages?

I was at a health fair last week in the Orlando, FL area. We were providing education information about reverse mortgages. Including Fannie Mae, FHA, and reverse mortgage analysis' for attendees at the health fair.

I noticed a great deal of attendees walking by and looking over the information, when I would try to pass them a Fannie Mae brochure, they would reply with something like "No thanks, I no longer have a mortgage, and don't want another one". I would try to explain that a reverse mortgage can provide a great deal of income from the equity in their home especially since they have 100% equity without a mortgage, and no payments. In most cases, they wouldn't understand but it was initial 'mortgage' word that made them leary of the program.

I understand that reverse mortgage knowledge is growing, but there are still millions of seniors who would benefit from a reverse mortgage if they understood the process.

This makes me think that maybe the word "reverse mortgage" will take some time to become an understandable phrase, seniors feel that after all those years of paying their mortgage, the last thing they want is another "mortgage".

As more and more reverse mortgage education is spread, seniors nationwide will not be scared of the "mortgage" word, instead they will be asking for it.

Till next time, have a blessed day