Reverse Mortgage News
FOX Atlanta Reports that the New Reverse Mortgages "Really Work"
05/11/12 at 06:46 AMA FOX News local Money Watch segment in Atlanta, GA, reports that the new FHA reverse mortgage that's "Really going to work for some people".
TIME Ideas: Can Boomers Solve the Aging Boomers Crisis?
05/09/12 at 10:13 AMWho Can Solve the Aging Boomers Crisis? Boomers As the number of Americans over age 65 grows dramatically, it's time to create affordable housing solutions for senior citizens.
Written by: Eric Klinenberg
Source: TIME Ideas - The Society Column
Senate Subcommittee Says “Yes” to 2013 Reverse Mortgage Counseling Funds
04/25/12 at 01:28 PMFollowing a rocky year for reverse mortgage counseling funding in fiscal year 2012, a Senate subcommittee has already said “yes” to counseling funds for 2013. The Senate Transportation, Housing and Urban Development (THUD) Appropriations bill, passed last week by the Senate Appropriations Committee, includes $55 million for housing counseling, including Home Equity Conversion Mortgage (HECM) counseling.
Written by: Elizabeth Ecker
Source: Reverse Mortgage Daily
Banker & Tradesman: Reverse Mortgage Goes Mainstream
04/24/12 at 01:16 PMThe reverse mortgage is going mainstream, says a recent article by trade publication Banker & Tradesman. The borrowing age is dropping as younger consumers look to the loans to help manage the risk of their investment portfolios, the article writes based on a recent presentation to credit union industry members by representatives from MetLife.
Written by: Christina O'Neill
Source: Banker & Tradesman
MarketWatch: Reverse Mortgages, Take a Second Look
04/20/12 at 09:12 AMA MarketWatch column this week jumped on the reverse mortgage press train with input from Texas Tech’s Dr. John Salter and reference to new investment advice from Fidelity that looks to home equity as a retirement mechanism.
Written by: Elizabeth Ecker
Source: Reverse Mortgage Daily
MetLife: Retiring Boomers Aren’t Moving; Reverse Mortgages Can Help
04/10/12 at 02:42 PMDespite a commonly-held thought that the baby boomer generation will need to “work forever” because of financial insecurity, an MetLife Mature Market Institute study released last week finds that boomers are actually “retiring in droves,” and an overwhelming amount indicated they want to stay in their current homes, at 83%. Reverse mortgages can help them do it.
Written by: Alyssa Gerace
Fox Business: Reverse Mortgages Gaining Popularity for Younger Boomers
04/02/12 at 03:06 PMA Fox Business article published last week focused on the shift toward younger reverse mortgage borrowers found in a MetLife Mature Market Institute Study published in late March.
Written by: Elizabeth Ecker
Source: Reverse Mortgage Daily
Retirement Hopes Dwindle, But Home Equity Remains
03/30/12 at 10:42 AMAs baby boomers begin to retire, an unfortunate fact has emerged: most have not saved adequately for their post-working years.
More than 65% of Americans report they are moderately or very worried they have not saved enough for retirement, according to a 2011 Gallup poll concluding that lack of retirement funds is America’s biggest financial concern.
The lack of savings coupled with an economic shift away from traditional retirement nest eggs such as pensions and employer-sponsored savings programs is leading today’s 65-plus population to a devastating truth: they don’t have a whole lot of options.
What they do have is their homes.
Written by: Elizabeth Ecker
Source: Reverse Mortgage Daily
Reverse Mortgage Applications Rise 17%
03/29/12 at 10:31 AMReverse mortgage applications rose in February to 6,795 applications, a 17% increase over January applications and marking the first uptick in applications since August 2011 according to data released this week by the Department of Housing and Urban Development.
Written by: Elizabeth Ecker
Source: Reverse Mortgage Daily
Is the Reverse Mortgage Financial Interview Tool Starting to Pay Off?
03/28/12 at 10:23 AMDeveloped by the National Council of Aging (NCOA), the tool is a guide that counselors use to ask a series of questions to create a budget for the client based on their income, assets, debt and expenses. It’s also meant to help discuss life factors such as declining health, limitations in home environments, and other issues that are important considerations when taking out a reverse mortgage.
Written by: John Yedinak
Source: Reverse Mortgage Daily
New FHA Hybrid Reverse Mortgage Might Be on the Horizon
03/27/12 at 03:08 PMThere may be a future for a new Federal Housing Administration hybrid reverse mortgage product, according to statements made today by representatives for the National Reverse Mortgage Lenders Association at the group’s eastern regional meeting in New York City.
Written by: Elizabeth Ecker
Source: Reverse Mortgage Daily
Time: Reverse Mortgages Fast Entering Mainstream
03/26/12 at 02:51 PMFormerly a loan of last resort, today’s baby boomers are fast turning to reverse mortgages to pay off debt and improve quality of life writes Time online, citing a recent study released by MetLife and the National Council on Aging.
Written by Dan Kadlek in TIME MoneyLand Magazine, March 16 2012
Retiree Majority Can’t Afford Daily Expenses
03/22/12 at 06:07 PMMillions of older Americans have trouble meeting their daily expenses, according to a new study released by Wider Opportunities for Women (WOW), an organization dedicated to economic independence for America’s families. Many look to government solutions.
Written by: Alyssa Gerace
Source: Reverse Mortgage Daily
Washington Post Debunks Reverse Mortgage Myths
03/19/12 at 06:08 PMAs the country’s home-owning population ages and baby boomers hit their mid 60s, it is time to take another look at the once-popular mortgage product known as the reverse mortgage.
Written by: Harvey S. Jacobs
Source: Washington Post
New Latino Reverse Mortgage Spokesman to Hit U.S. Airwaves
03/16/12 at 10:55 AMAfter announcing in January it will be expanding stateside, Puerto Rico reverse mortgage giant Moneyhouse announced this week it has signed Puerto Rican Salsa star Gilberto Santa Rosa as its spokesman in a new, multimillion-dollar advertising campaign.
Written by: Elizabeth Ecker
Source: Reverse Mortgage Daily
MetLife: New, Younger Borrowers Need Reverse Mortgages
03/15/12 at 07:40 AMThe reverse mortgage borrower of today is getting younger, and the age may be declining even further as a result of the financial stresses of the past four years, according to a study released this week by MetLife.
Written by: Elizabeth Ecker
Source: Reverse Mortgage Daily
Muppets Arrive on the Reverse Mortgage Scene
03/14/12 at 12:20 PMHe may not be Kermit the Frog, but a new Muppet-like character aptly named Senior Sam arrived this week in a video to teach consumers about reverse mortgages.
Written by: Elizabeth Ecker
Source: Reverse Mortgage Daily
Aging In Place Paramount, But Seniors Seek Home Changes First
03/09/12 at 03:10 PMAffordable housing is a rising concern for the 65+ population, a Bipartisan Policy Center survey released this week finds. And while the vast majority agree that aging in place is ideal, there are also considerations for many homeowners that go beyond that goal.
Written by: Alyssa Gerace
Source: Reverse Mortgage Daily
New York Times: Why The Fonz Hits the Reverse Mortgage Sweet Spot
03/08/12 at 02:47 PMWhy are the majority of reverse mortgage spokesmen men? And what has made former actors such as Robert Wagner such effective reverse mortgage representatives in today’s market? A New York Times article published this week aimed to find out.
Written by: Elizabeth Ecker
Source: Reverse Mortgage Daily
Texas Tech On Reverse Mortgage Financial Planning Crusade
03/07/12 at 12:12 PMWith a forthcoming study proving the financial planning benefits of using a reverse mortgage, researchers at Texas Tech have been working to inform the financial planning community of the loans’ benefits to senior retirees.
Written by: Elizabeth Ecker
Source: Reverse Mortgage Daily
Healthcare Costs Skyrocket, but Housing Still No. 1 Expense for Seniors
03/06/12 at 07:21 AMRanking an even higher expense than health care costs for people ages 50 and over, home-related expenses mark the highest spending category for Americans in retirement, with health costs a rising second, according to data released this week from the Employee Benefit Research Institute (EBRI).
Written by: Elizabeth Ecker
Source: Reverse Mortgage Daily
Jeff Taylor: The Reverse Mortgage, From Pilot Program to Pioneer
03/05/12 at 06:54 AM“We are still pioneers. It’s not our first rodeo, but we haven’t seen the last bull.” Some like to think of Jeff Taylor as the “Godfather” of reverse mortgages. From his work in creating the product from the ground up starting in 1989, founding the industry’s trade association and working with several industry mainstays.
Written by: Elizabeth Ecker
Source: Reverse Mortgage Daily
Bill to Require in Person Reverse Mortgage Counseling Introduced
03/03/12 at 07:01 AMThe Department of Housing and Urban Development sent a notice to counseling agencies warning them of prohibited marketing practices it has seen recently. According to HUD, a number of agencies that provide Home Equity Conversion Mortgage (HECM) counseling are marketing their services directly to lenders.
Written by: John Yedinak
Source: Reverse Mortgage Daily
NRMLA Outlines Most Immediate CFPB Reverse Mortgage Concerns, More to Follow
02/29/12 at 10:27 AMWhile the Consumer Financial Protection Bureau has yet to do much in the way of reverse mortgage examination or enforcement, the agency will be making an impact on the industry now that it has its full authority.
Written by: Elizabeth Ecker
Source: Reverse Mortgage Daily
FINRA and NCOA Launch New Reverse Mortgage Education Website
02/28/12 at 03:14 PMThe National Council on Aging has launched a new consumer web site focused on using home equity in retirement, funded by the Financial Industry Regulatory Authority. The site, Home Equity Advisor.org, covers home equity options.
Written by: Elizabeth Ecker
Source: Reverse Mortgage Daily