BREAKING: Exclusive interview with Martin Andelman

Martin Andelman interview



Media pundits tout HELOCs- a bad idea?
The impact of the coronavirus on home values

This week we had the chance to connect with Martin Andelman for his perspectives on the use of HELOCs by older homeowners, how the coronavirus will impact the housing market, and other financial matters. He is a writer and communications strategist. In 2007 he founded Mandelman Matters, a blog dedicated to topics ranging from mortgage lending, finance, and popular culture.

 

5 comments

James E. Veale, CPA, MBT April 26, 2020 at 11:22 pm

Martin and Shannon,

A great interview!!

With the PROVEN uncertainty of HELOCs, it is hard to believe that they are as popular as they are. Martin is right that few bankers will even speak of reverse mortgages, why? Because they don’t offer them.

As a friend to the industry, Martin is a great interviewee. We all know Shannon does a great job of getting the interview going.

Shannon, you chose the right place to end the first half of the interview.

Reply
Shannon Hicks April 27, 2020 at 6:54 am

Thank you my friend. It was a pleasure to have Martin on the show. His insights are particularly important today.

Reply
Homa April 27, 2020 at 8:43 am

Hi Shannon,
do you think that FAR will freeze their line of credit for their clients utilizing their line of credit?

Reply
Shannon Hicks April 27, 2020 at 9:28 am

I’ve heard no indications of that they would as of yet.

Reply
The_Cynic April 28, 2020 at 1:20 pm

Homa,

Neither FAR nor any other lender can freeze the HECM line of credit. Like all other lenders, the highest number of reverse mortgages with lines of credit that FAR has ever originated are adjustable rate HECMs.

If you are referring to FAR’s proprietary reverse mortgage offering something like a HELOC, can it frozen? You will have to read the underlying mortgage documents to figure out if they can.

Reply

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