HUD’s Housing Counseling Federal Advisory Committee met and looked at lingering issues in HECM loans- including some borrowers who unexpectedly ended up in foreclosure.
Continue readingHECM Counseling committee addresses property defaults
Fannie Mae economists downgrade their housing forecast.
[Housing Wire] It will get worse for the housing market – and mortgage industry – before it gets better. That’s the takeaway from a group of economists at Fannie Mae who slashed their forecast for 2022 home sales this week
Continue readingReverse borrowers encouraged to seek assistance
The office of the California Attorney General Rob Bonta published an alert last week encouraging state residents impacted by the Covid-19 pandemic to seek assistance to repay house payments.
Continue readingThe HECM is teetering on collapse because…
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EPISODE #735
“The reverse mortgage business is teetering on collapse because…”
[Reverse Mortgage Daily] sat down with Ted Tozer who served as president of Ginnie Mae to get his perspectives and outlook for the Home Equity Conversion Mortgage (HECM) program.Â
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Other Stories:
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Over half of Generation X’ers cannot afford to help their parents financially.
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You can’t take the money and run- Borrowers must return money to rescind the loan
A time-honored loan in FHA
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EPISODE #734
RMD sits down with our FHA Commissioner
Reverse Mortgage Daily sat down with FHA Commissioner Julia Gordon for her perspectives on the HECM program, its strength, and outlook.
Other Stories:
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Newsweek: The U.S. facing a potential ‘perfect storm’ for a housing crisis
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Workers Say Inflation Is Now the No. 1 Obstacle to a Comfortable Retirement
Index shows seniors cannot afford basic necessities
The True Cost of Aging Index Shows Many Seniors Can’t Afford Basic Necessities
Continue readingWill Dave Ramsey’s housing forecast age well?
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EPISODE #732
Why Ramsey Solutions’ housing forecast may not age well
“Right now is the best time to buy a house in the next five years. And here’s why: prices are not gonna go down”, says Ramsey Solutions, the company founded by the financial celebrity and well-known commentator Dave Ramsey. Is he right?
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Senior housing wealth up 4.91% in the first quarter of 2022
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The Role of Real Estate in Retirement Planning
The #1 reason over-65s take out reverse mortgages
Fortune Magazine says home prices could drop by 10% or more in these U.S. cities, referencing a recent report from Moody Analytics.Â
Continue readingShould I sell and rent or get a reverse mortgage?
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EPISODE #730
Should I sell and rent or get a reverse mortgage?
One 82-year-old woman writes a Money Sense columnist saying her savings are draining fast and she wants to know if she should move & rent or consider a reverse mortgage.
Other Stories:
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Social Security Recipients Could Get a Massive 11% Raise Next Year (Money.com)
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Why the housing market is weaker than it appears
Seniors head back to retirement communities
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EPISODE #729
Seniors head back to retirement communities after the Covid pandemic
As reverse mortgage professionals, we often talk about the vast majority of seniors who want to age in place in their existing homes. This week we bring you the other side of this issue from MarketWatch…
Other Stories:
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Morningstar:Â Ilyce Glink: Speaks on the State of the U.S. Residential Real Estate Market
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CBC:Â Canadian regulators cap reverse mortgage loan percentage
