Are ‘Empty Nests’ a Thing of the Past…?
It used to be that parents would have their children, take care of them, watch them go off to college and never come back (only visited) unless something dire happened. Since the 2007-2009 recession, however, it seems like senior homeowners are experiencing less of an empty nest and more of [...]
The Standard Fixed-Rate HECM Loan…A Thing of the Past
Earlier this year, the Federal Housing Administration removed the Standard Fixed-Rate Home Equity Conversion Mortgage from its list of available reverse mortgage products, leaving only the HECM Saver (“Standby” Reverse Mortgage) and the Adjustable-Rate Standard HECM. During a Senate Banking Committee hearing on Tuesday, July 23, the assistant secretary for the Department [...]
Can Creative Retirement Planning Save Older Americans…?
It’s the question everyone keeps asking themselves without really find a clear answer for it. In truth, it’s been known that retiring in the current financial climate would be a hassle but after working 30+ years, older Americans expect a return for their investment and it’s not coming. According to [...]
New Precedents Are Set Everyday
In our business, we have to constantly think on our feet, be creative, and find solutions to previously unprecedented and unforeseen problems. According to an article published in Reverse Mortgage Daily, the creative thinking of The Oregon Department of Transportation might have set a new precedent in a special reverse mortgage case. The circumstances [...]
Saving for Retirement… Why Does It Continue to Fall Behind?
I have to say I have no idea. Retirement savings continue to fall behind despite the fact that older Americans need at least 70% of working income, accroding to a news report by Interest.com, in order to retire comfortably and without the stress of impoverishment. It’s a shocking number, and to [...]
Not All Regulations Cast a Dark Shadow….
Potential changes to the FHA-insured reverse mortgage continue, according toGovernment May Crack Down Harder on Reverse Mortgages…and there is no sign of them slowing down. One of the biggest problems the reverse mortgage program is facing today is the potential loss of $943 billion on loans made when housing values were much [...]
