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Robbing Peter to Pay Paul: Friday’s Food for Thought

by Shannon Hicks

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Increased FHA premiums

Reverse Mortgage Borrowers May See Increased Insurance Premiums
It’s a consequence of the payroll tax cut extension: increased FHA premiums. Reverse mortgage borrowers may see increases of ongoing insurance premiums. Should borrowers bear the burden for a tax cut for working Americans?

Increased FHA Premiums, Reverse Mortgage Borrowers Insurance Premiums

Shannon Hicks - Shannon is the President of Reverse Focus, Inc. He draws from his experience as a reverse mortgage originator and prior work in the financial services industry. Shannon has been covering reverse mortgage news stories since 2008 when he began podcasting and in 2010 with weekly video updates. He has spoken nationally at industry events and is host of the nation’s only weekly podcast for reverse mortgage professionals “Reverse Focus Weekly”. For more information, call 1.800-805-9328 x 3-3 or visit www.ReverseFocus.com .

2 comments

David White January 13, 2012 at 8:53 am

MIP charges already keep some people from buying a home or doing a reverse mortgage. Assuming that the average person changes their home every 7 years, 14% of homeowners are carrying the tax load for the entire workforce.

Reply
The_Cynic January 13, 2012 at 3:06 pm

I am a little lost on your comment. There were other offsets as well. FHA insurance was just one.

Reply

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