Is the federally-insured reverse mortgage a social program or a mortgage loan? The question should be addressed as it goes to the heart of recent program changes, restrictions and requirements. While few argue the HECM program is a social program many often lament that the loan no longer serves the needy, cash-poor or typical borrowers or the past due to principal limit reductions and further loan restrictions.
Continue readingThe Three Horsemen of the Retirement Apocalypse
The Three Horsemen of the Retirement Apocalypse. It’s no secret. The retirement system in America is broken.
Continue readingWhen Men Find Themselves Suddenly Solo
How do mean navigate later life alone due to divorce or, more likely, the death of a spouse. What makes the information most compelling is the voice of Suddenly Solo…
Continue readingA Square Peg in a Round Hole?
In my younger (pre-reverse mortgage years) I had the opportunity to meet several salespeople. All ages, skillsets and personalities. I learned something. Far more important than personality, closing skills or charm successful salespeople had this… a niche skill and they didn’t stray from it
Continue readingAARP’s Six Fixes for Reverse Mortgage Program
The powerful lobying group AARP with it’s 38 million plus members has incredible clout in Washington DC. In a recent Senate hearing before lawmakers they suggested six changes to the federally insured reverse mortgage program.
Continue readingIs this a Silver Lining?
[ad#Network Funding]
Borrowers overwhelmingly choosing Standard Adjustable. Why?
[vimeo id=”67430808″ width=”625″ height=”352″]
HUD says the reverse mortgage program is generating positive cash flow. That’s good for the short term but does not erase the future liabilities to the mutual mortgage insurance fund for previous years books of HECM business which is expected to result in claims for property values under the final loan balance and tax and insurance defaults. In it’s recent quarterly report to congress, HUD reports that the reverse mortgage program is…
When Age is an Advantage
Dylan sang, “The times they are a-changin’,” and the septuagenarian’s lyrics presaged today’s workforce. Gone is the gold watch and golden years playing golf or relaxing on the front porch.
Continue readingPhoenix Rising?
There has been much discussion as to why reverse mortgage volumes are at historic lows.Will reverse mortgage volume slowly rise again like the mythical Phoenix from its ashes? A look at current home price trends and our future.
Continue readingHelp your clients Age-Proof their homes
One of the greatest challenges today’s Boomers face is persuading Mom and Dad that their beloved house could benefit from some simple modifications which will make their home safe as well as comfortable…
Continue readingReverse Mortgage Rates – Greed or Need?
Is it greed that has made fixed rate reverse mortgages nearly 70% of total production? Or is it something else…the needs of the marketplace?
Continue reading