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Continue readingProtected: Interview with AAG CEO Reza Jahangiri
A Case for the Financial Assessment?
The chief concern amongst many is the new financial guidelines will further shrink the pool of eligible borrowers at a time when reverse mortgage production is low. However there is another facet of the financial assessment that can be easily overlooked; reducing headline risk.
Continue readingThe Apocalypse that Isn’t Coming
Reaching retirement goals requires hope. A hope for a better future bolstered by small concrete actions taken today. We should avoid any appeal to fear and sell the vision of a more secure retirement which is the greatest motivator.
Continue readingA Sick Housing System?
As a reverse mortgage professional have you ever pondered the forces behind our housing market? What makes the lending world keep running? What natural or artificial forces are at play that influence home prices and affordability?
Continue readingThe New Face of Reverse Mortgages
Many of our viewers know that often our industry’s image has often been shaped in part by negative media stories and misinformed columnists and consumer groups. In essence we have found ourselves on the defensive having to respond to claims which are often false. The Extreme Summit seeks to transform the public’s perception of the HECM through…
Continue readingFact or Myth: Resistance from Heirs
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Senators urge HUD to better protect HECM heirs wishing to purchase home
Is the issue of heirs opposing their parents taking a reverse mortgage rooted in truth or is it a myth perpetuated by a misinformed media? Last week we sat with Michael Banner, National Education Director for Security One Lending and founder of the American CE Institute who shares his real life experiences with children heirs and senior professionals across the country.
The Rule of 95
Senators Barbara Boxer & Charles Schumer implored the agency to take measures to ensure heirs of a deceased borrower are not forced out of their homes illegally.
Continue readingMortgage Professor’s Top Ten Reasons to Get a Reverse Mortgage
With overall industry volume down it’s no surprise that reverse mortgage professionals are looking for ways to retain or grow their personal loan production. Many are apprehensive of the potential negative impact of the upcoming Financial Assessment.
Continue readingJust Whose Home Is it Anyway?
Have you ever had a loan shot down by the borrower’s children? Yet this is a common issue encountered by most reverse mortgage professionals: senior homeowner’s needing relief from mortgage payments or increased cash flow and children who block the loan to protect their own self interests.
Continue readingWhere Do We Go from Here?
Henry David Thoreau said “However mean your life is, meet it and live it.”. That sounds great in theory but what practical steps can we take to weather the current winds of change in the HECM industry?
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