Are repeated HECM changes and stricter guidelines preventing substantial growth in HECM endorsements? Despite increasing housing wealth, a growing senior population, and increasing financial need few older homeowners are taking a reverse mortgage. An examination of potential roadblocks and how to overcome them.
An examination of the economic and market forces that will shape federally-insured reverse mortgage lending in 2020. It’s been said that more people are alive today than have died throughout history. It appears the opposite of that is true when it comes to federally-insured reverse mortgages. Since 2016 the
Heirs attempting to payoff reverse mortgages face hurdles or accelerated foreclosures Losing a parent is truly a heart-wrenching experience. One that many of you our viewers, and myself have endured. Compounding the grief is the frustration in settling the financial affairs of your loved one. According to a recent
Accounts of abandoned HECM properties highlight significant servicing problems for assigned loans “My mother passed 3 years ago and she had a reversed mortgage on her home that funds ran out several years ago. All documents were sent to the servicing company (death certificate, copy of the trust) in 2016. Since