A 70-year-old called Ramsey Solutions and seemingly had Dave Ramsey stumped until he learned they had this asset…and no, it’s not a reverse mortgage
Continue readingDave Ramsey was at a loss for words until…
How do you pay back a (HECM) reverse mortgage?
When must a reverse mortgage be paid off? Can the loan be paid off early? What are the typical payoff options?
Continue readingTightening mortgage credit may boost HECM
There’s a reason why fewer potential homebuyers and those seeking to tap into their home’s equity may no longer qualify: increasing mortgage interest rates and stubbornly high home prices. Will this make reverse mortgages more appealing?
Continue readingUSA Today: Where are home prices headed?
The soon-to-be-released updated FHA handbook will incorporate several recent policy changes and HECM mortgagee letters.
Continue readingManaging debt in retirement
The Yakima Herald-Republic reports that 31% of Americans 60 and older say they have more debt than they can manage…
Continue readingThe signs that housing prices will drop in your city
MarketWatch spoke with Doug Duncan, senior vice president and chief economist at Fannie Mae in a video interview…
Continue readingBoomers and the refi boom reckoning
With housing inventories already strained half of homeowners with a mortgage in America report they have little or no financial incentive to sell their home…
Continue readingSurvey shows home equity loan intent
Accurate Group surveyed over 1,000 consumers across the nation in the first quarter of 2023 to capture their intentions on how they plan to leverage or tap into their home equity.
Continue readingMBA subsidiary starts reverse mortgage working group
A subsidiary of the Mortgage Bankers Association has started a reverse mortgage working group…
Continue readingThe Problem With Being House Rich
What are the problems with being house-rich? One columnist explains the downside of locked-up home equity…
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