Consumers Have A “HECM Choice”
Back in April, HUD did away with the fixed-rate reverse mortgage product because of the potential danger it posed to the Mutual Mortgage Insurance Fund. The problem with the fixed-rate is the borrowers would take out all the fund available at closing or risk losing any fund that were left over. [...]
Baby Boomers Take Advantage of Their Empty Nests
Even while empty nests are potentially becoming a thing of the past, it seems some baby boomers are trying to combat this reverse trend by helping out their children monetarily before letting them move back home. According to an article published in Reverse Mortgage Daily, a Del Webb Baby Boomer Survey, which surveyed [...]
Baby Boomers See, Baby Boomers Do
Baby Boomers See, Baby Boomers Do Retirement means something different for everyone. Even before the Recession, I’m sure there were retirees who never thought of retirement as “completely retiring yourself from the workforce and moving to Florida.” We are all different, so it stands to reason that some people either remained [...]
It’s Important to Adjust Expectations…No Matter the Situation
The retirement expectations of middle income Americans are changing. The preconceived notion that Social Security and Pension funds will be enough to sustain a comfortable retirement is falling by the wayside. A survey, published in Reverse Mortgage Daily, conducted by the Center for Secure Retirement, however, demonstrates that, while most Americans [...]
Reverse Mortgage Loans FAQ: “Should I Get a Reverse If Mortgage I’m Moving…(Eventually)?
Reverse Mortgage Loans FAQ: “Should I Get a Reverse If Mortgage I’m Moving…(Eventually)? A reverse mortgage loan or a home equity conversion mortgage, is a mortgage that pays you based on your age, home equity and is contingent on whether or not you live in your primary residence. Some homeowners, however, [...]
“Realtors Need to Know About Reverse Mortgages…”
“Realtors Need to Know About Reverse Mortgages…” This is the headline in Reverse Mortgage Daily that led me to an article published by Inman.com detailing the benefits of a reverse mortgage for retiring seniors (when done right) as well as the pitfalls (if it is done incorrectly). One of the highlights of the article was [...]
