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‘Wishful Thinking’: Lowering HECM Costs & Increased Loan Adoption
It may be wishful thinking on the part of the Long Term Care Financing Collaborative to think that further reducing HECM costs will increase loan adoption and opportunities to finance long-term care.
Reverse Mortgage Daily Columnist Jason Oliva addressed the assumptions of the Collaborative in his February 24th column which examines the possible role home equity should play when it comes to meeting American’s long-term care needs. Despite the fact that reverse mortgages open a myriad of possibilities for older homeowners by tapping an otherwise illiquid asset, some policy experts feel the existing product may not be adequate to address long-term care costs…
Download a transcript of this episode here.
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