Threats Seen & Unseen
Are we missing the signs of tangible threats to our potential borrowers?
retirement
Involuntary Retirement
Older workers face ‘involuntary retirement’. Are we reaching these homeowners? In January 2020 the unemployment rate for those 55 and older was 2.6% [MarketWatch] By April 2020 the unemployment rate spiked to 13.6% for those 55 and older [MarketWatch] After the last recession (2008) those between the ages of 51-60
The BEST mortgage forbearance plan
Why older homeowners should consider a reverse mortgage as the ultimate ‘forbearance’ program Many struggling older homeowners have already paid down their original loan balance significantly. Should they refinance the mortgage into a new 30-year term? Not if they want to eventually stop making payments or expect a drop
The CARES Act Still Leaves Homeowners Vulnerable
Homeowners face a cut in retirement. Here’s why and what you can do to help Nothing stings so sharply as getting knocked down just a few feet from the finish line. The Bureau of Labor Statistics reveals that workers 55 have been especially hard-hit. Workers in this age group
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.
Do we have it all wrong?
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
The Retirement Panic Attack
“Needs-based” borrowers aren’t the only ones worried about retirement More Americans are having a retirement panic attack. Some never saw it coming. Of course, throughout the decades of our working life we know eventually we need to have the means to retire without income from our job, yet still,
Bloomberg’s Plan includes reverse mortgage reforms
Mike’s got a plan for that Former New York Mayor and billionaire Michael Bloomberg’s late entry into the Democratic presidential primary has flooded the airways in recent weeks. What’s received far less media coverage is his recent plan to improve retirement security for Americans announced this Sunday. One of his
