HECM Loan Changes…What They Mean for HUD: Part 1 of 3
The changes to the reverse mortgage program will affect everyone. From HUD to brokers to borrowers, these new changes are poised to change the reverse mortgage program (as we know it) completely. For HUD, these changes have been a long time coming. They don’t want to eliminate the program. They just want to [...]
Counseling Appointments for HECM Loans Become Scarce…
Counseling Appointments for HECM Loans Become Scarce…As September 28 Deadline Approaches HECM Loan counseling is a crucial component of obtaining a reverse mortgage. It ensures that applicants completely understand the in’s and out’s of the program and are fully aware of what is expected of them should they get a reverse [...]
Who Will Care for Baby Boomers in the Future?
Times continue to change for baby boomers–and not just in terms of when they will retire and how they will pay for it–but also about who will care for them in their 70s and 80s. A recent study, conducted by the AARP, documented the “caregiver support ratio” in order to assess the [...]
Baby Boomers…Living Longer, Not Necessarily Healthier
Baby boomers have something else to worry about: their health. On top of depleting government resources, low cash flow, and increasing longevity, baby boomers are now are now more likely to suffer from high blood pressure, high cholesterol and diabetes than the preceding generation, according an article published by ABC NEWS, based [...]
Reverse Mortgages Offer Retirement Security
Who knew your home was guarding a secret? A secret that can mean the difference between a comfortable retirement and a less-than-perfect retirement? One that could help you downsize during retirement or offer retirement security in the future. In truth, your house has been less than honest with you and [...]
Does Less Money Mean Less Problems?
The changes to the reverse mortgage program are becoming a reality. By the end of September, the reverse mortgage program (as we know it) will be gone, and with it, the old principal limit factors. According to an article in Reverse Mortgage Daily, the new principal limit factors under the consolidated reverse mortgage program, will be, roughly, 15% [...]
