Lifelong Mortgages: The New Norm?

ePath 100K RM leads

Younger borrowers are taking longer mortgages- then comes a reverse?

When debt is king and aging populations are exploding across developed countries, more are finding themselves with a mortgage throughout their adult years. Lifelong mortgages may soon become the rule rather than the exception. Overall baby boomers are not doing too badly when compared to younger generations, but they have challenges as well. Fannie Mae reports over 51% of baby boomers are still paying a mortgage. CNBC columnist Bob Pisani writes that 45% of baby boomers born between the years 1946 to 1964 have zero savings for retirement…

While we can debate the exact percentages one trend is emerging. Fewer older American will be paying off their homes before retirement, or for that matter before they die.  That should come as no surprise as only…


1 comment

The Cynic September 23, 2019 at 7:40 am

As the size of home owning seniors in this country continues to grow by the millions each new fiscal year, why is it that the number of active HECMs contintues to shrink? Yes, there are senior demographics and characterics that seem to indicate otherwise but the facts are, HECM endorsements for this fiscal year will be 1.) about 35% lower than those for last fiscal year and 2.) 73% lower than the endorsement count for fiscal 2009, a decade ago and also the peak fiscal year for HECMs endorsed.

What is the outlook for fiscal 2020 for HECM endorsements? With the loss of HECM refis and otherwise stagnant growth, well. not good!!


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