“Reverse Mortgage May Grow in Popularity…”
“Reverse Mortgage May Grow in Popularity…” The reputation of the reverse mortgage as “a loan of last resort” has made many future borrowers wary of even considering it unless they are in a dire situation. This is the biggest hurdle for the reverse mortgage program moving forward, possibly the most important. [...]
Texans Get 12 Days…
Texans Get 12 Days… The Lone Star state become the last state to allow its senior citizens the ability to purchase a home using a reverse mortgage when Proposition 5 was voted into a law in early November. The reverse purchase is expected to be available for senior homeowners during the [...]
HUD Makes HECM for Purchase Available In Texas
Weeks after the citizens of Texas voted to amend the state’s constitution to allow older citizens, 62 years of age and older, the ability to obtain a HECM for Purchase (or Reverse Purchase), the National Reverse Mortgage Lenders Association has announced, just in time for the New Year, that the [...]
Non-Existent Long-Term Care Solutions
Time to Find Some Before It’s Too Late The harsh realities of retirement and long term care are upon us but America continues to prove its unequipped to handle the growing number of retirees who will need long term in the future. “Unfortunately, America does not have a strategy to [...]
Planning for Retirement Becomes More Crucial
“Two-thirds of seniors have little or no problems paying monthly living expenses now, but more than half (53 percent) are concerned that their savings and income will not be sufficient to last them for the rest of their lives,” reports the second annual United States of Aging Survey in an article [...]
FHA Delays Reverse Mortgage Financial Assessment…For Now
The reverse mortgage industry can rest easily for the next few months following the Federal Housing Administration’s announcement that it would hold off on implementing a financial assessment component to the reverse mortgage program for an unspecified period of time after January 13 of next year. While we are still [...]
