Haven’t We Learned?

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Homeowners Returning to HELOCs in Record Numbers

It seems the collective memory of many Americans is short in the wake of the housing and economic crisis. How so? The Wall Street Journal recently reported that more homeowners are once again tapping into their home equity. As home values recover and interest rates remain artificially low many are beginning to take out HELOCs or Home Equity Lines of Credit to fund home renovations, pay off higher interest rate debts or cover other expenses. This strategy may work well for younger borrowers with sufficient and stable income but not for senior homeowners who are on a fixed income. Why the shift? First the appetite for home equity remains in the market. Second, lenders seeking to increase their sales volume are providing what the…

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Editor in Chief: HECMWorld.com

As a prominent commentator and Editor in Chief at HECMWorld.com, Shannon Hicks has played a pivotal role in reshaping the conversation around reverse mortgages. His unique perspectives and deep understanding of the industry have not only educated countless readers but has also contributed to introducing practical strategies utilizing housing wealth with a reverse mortgage.

Shannon’s journey into the world of reverse mortgages began in 2002 as an originator and his prior work in the financial services industry. Shannon has been covering reverse mortgage news stories since 2008 when he launched the podcast HECMWorld Weekly. Later, in 2010 he began producing the weekly video series The Industry Leader Update and Friday’s Food for Thought.

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