A Surprise HECM Foreclosure?

Shannon Hicks
Possible Remedies to Prevent HECM Defaults The reverse mortgage industry could lament it’s treatment in the media, in the words of Rodney Dangerfield, “that’s the story of my life…no respect”. NBC4’s consumer reporter dramatically recounts the tale of a HECM borrower who narrowly avoided foreclosure. The borrower’s power of attorney

The Myth of Reverse Mortgage Foreclosures?

Shannon Hicks
Guttentag Questions the Definition of a HECM ‘Foreclosure’ “Whoever controls the language controls the debate”. The purported ‘epidemic’ of reverse mortgage foreclosures has long been a staple for major media outlets to attack the reverse mortgage as a risky and dangerous loan. Closer to home, the incidence of HECM foreclosures

A Case for the Financial Assessment?

Shannon Hicks
The chief concern amongst many is the new financial guidelines will further shrink the pool of eligible borrowers at a time when reverse mortgage production is low. However there is another facet of the financial assessment that can be easily overlooked; reducing headline risk. uses cookies to improve user-experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Cookies View Policy