The obstacle to HECM growth is our path forward We’ve just finished coming off a two-year sugar rush, actually, a gold rush of accumulated home equity that surprisingly surged after the Coronavirus pandemic reached our shores. Americans were awash with newfound equity thanks to their swelling home value. However, today
It’s time to get past ‘eliminate mortgage payments’ Tax-free- no required payments, increased monthly cash flow- eliminate mortgage payment. These are just a few of the most-touted benefits of reverse mortgages. Just google any of the phrases and your likely result will be a reverse mortgage. But are these
Are repeated HECM changes and stricter guidelines preventing substantial growth in HECM endorsements? Despite increasing housing wealth, a growing senior population, and increasing financial need few older homeowners are taking a reverse mortgage. An examination of potential roadblocks and how to overcome them.
More looking outside the HECM as a single solution What will save the reverse mortgage industry or at least put us back on a trajectory of sustained growth? One industry leader sees a path for recovery- one that broadens our vision and approach. Finance of America Reverse’s President Kristen
How sharing what works for you benefits all Last week we asked you, our loyal viewers, to share what’s helped you attract potential HECM borrowers and grow your business. Well, several of you took the time to submit your ideas. Thank you, sincerely. Here are a few. Networking and calling
Yogi Berra said ‘the future ain’t what it used to be”. One of the biggest challenges any industry, city or individual can face is to embrace the reality that things will never be like they were before and look for new ways to succeed in the new normal of doing
A long-term perspective of HECM endorsement volume Our collective experience as reverse mortgage professionals shapes our perspective. Much of that perspective in recent years was influenced by falling endorsement volumes. The reverse mortgage industry posted a record 114,000 endorsements in 2009 just as the housing and economic crash began in