Kicking & Screaming
A Bear market and inflation may force retirees to tap into other assets
HECM
Inflation is eating into retirees quality of life
Inflation is here. Here are two-ways older Americans are impacted Chances are you’ve filled up your gas tank or gone grocery shopping in the last six months. If you have one thing is undeniable. The cost of energy, fuel, and food is rising…rapidly. A fact made all too real as
Podcast E647: Revision Improves HECM’s Economic Net Worth by $7B
Unable to use the embedded player? Listen here. Revision Improves HECM’s Economic Net Worth by $7B One industry observer noted a difference between HUD’s Annual Report to Congress and the actuarial review of the HECM in FHA’s insurance fund. Here’s how a $7 billion difference was found and why. Other
The much-maligned loan that may be embraced
“ If the overall unemployment rate reaches 25%, we project 10.5 million older workers will lose their jobs. For those in the lower half of the earnings distribution, 6.1 million older workers (29%) are projected to be laid off”. That is the stark prediction released by The New School’s Schwartz Center for Economic Policy Analysis.
Forbes: ‘How Heirs Should Handle A Reverse Mortgage After Death’
All Reverse Mortgage’s CEO Michael Branson penned another excellent column in Forbes- this time addressing how heirs and adult children can transfer a HECM property to the new owner and what paperwork is needed to ‘walk away’ from the home and the outstanding mortgage balance. [READ FULL ARTICLE HERE]
HECM reforms the focus of Congressional hearing
Recent improvements, racial targeting, and some surprising suggestions Despite the impeachment drama in our nation’s capital, the House Financial Services Committee’s hearing on the HECM was held as scheduled. It shows that some Congress members view of the HECM has evolved and some interesting proposals were put forth from
Can a Foreclosure Occur with a Reverse Mortgage?
As a mortgage professional, I worked nights and weekends as a housing counselor during the financial crisis. Foreclosures are scary and heartbreaking, and I will admit to crying with clients when their only option was to pick up boxes behind the grocery store and find any friend with a truck.
Is it Equity or Value? That is the Question
Common explanations that may create confusion A wise person once said, “Words are free. It’s how you use them that may cost you.”At some point in our careers, most of us have been guilty misusing keywords when describing the features and benefits of the federally-insured reverse mortgage. I most
