Virtual HECMs, Taxes & Goodbye to a Friend

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Weekly news roundup: January 15th, 2018

Half of US households are lacking the funds to retire comfortably- The National Retirement Risk Index dropped from 52 to 50% between 2013 and 16. The index-as calculated by the Center for Retirement Research at Boston College- measures the percentage of American households that are unprepared for retirement. The bottom line is nearly half are underprepared to retire, even if they liquidate their assets over time and work until age 65. The most salient fact for our viewers is despite numerous cutbacks to the HECM, the program remains a valuable and viable option for today’s older homeowner.

The Republican tax law has received reviews- raves from those seeing larger paychecks or receiving bonuses from employers who saw their corporate tax rates slashed – and criticism- much centered on the inequitable impact on taxpayers who may no longer be able to deduct all their state and local taxes…

*Here are HUD’s new guidelines to calculate the upfront FHA insurance premium for a HECM to HECM refinance

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