HECM Market

Why the HECM Reverse Mortgage Market Is Stunted – and What Can Be Done About It. by Jack Guttentag, Contributor. Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania Jack Guttentag, Contributor Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania. On the positive side of the…

Reverse Mortgage Opportunities and concerns Changes include higher upfront costs, a lowered principal limit factor and an interest-rate deduction. Advisors have recommended clients use reverse mortgages for cash management, delaying Social Security withdrawals and funding long-term care. In August the Consumer Financial Protection Bureau issued a warning against taking out a reverse mortgage to maximize Social Security…

More Baby Boomers Will Enter Retirement with Mortgage debt, Fannie Mae Finds More baby boomers who have yet to retire will enter their golden years with outstanding mortgage debt than previous generations, according to a recent study from Fannie Mae. I have compared generalized spreadsheets with colleges from New York and Arizona, and its seems this problem…

Three ways your house could help you in retirement. CBS Moneywatch If you’re nearing retirement age and feeling as though your savings may not be quite as hefty as you had hoped, you aren’t alone: Many Americans don’t have enough money saved to retire comfortably by age 65. Most older Americans have more than 50…

Reverse Mortgage Credit Line Strategy May Benefit More Retirees The reverse mortgage line of credit strategy may have concrete retirement benefits for a wider array of consumers than previously thought. Previous research into the Home Equity Conversion Mortgage line of credit option had focused primarily on people who had twice as much retirement savings as…

What HUD’s New Rules Mean for the Reverse Mortgage Industry The Department of Housing and Urban Development on Tuesday shook the reverse mortgage world with new rules regarding mortgage insurance premiums and principal limits. While the industry continues to sort out the exact effects — many of which may not be known until after the…

October Reverse mortgage reforms create stampede among would-be borrowers. HUD raising up-front fees for reverse mortgages starting October 2nd. A rules change that will raise fees and reduce loan amounts for reverse mortgages apparently has created a nationwide rush to get new loans completed before the reforms take effect Monday, October, 2. Agencies providing financial…

HUD Asks Reverse Mortgage Counselors: Any Slots Left? As housing counselors struggle to keep up with demand ahead of the new reverse mortgage rule changes, the Department of Housing and Urban Development is asking for their input and help. HUD’s Office of Housing Counseling on Thursday sent an e-mail, addressed to all approved Home Equity…

Reverse Mortgages That Work A path to provide retirees with financial flexibility and security. brought to you from Kiplinger Magazine and Scott Underwood- Reverse Mortgage Alabama. Many homeowners in or near retirement face a quandary. Their wealth is tied up in their home—two-thirds of the average retiree’s net worth is home equity—yet they’d rather not…