The HECM is teetering on collapse because…

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EPISODE #735
“The reverse mortgage business is teetering on collapse because…”

[Reverse Mortgage Daily] sat down with Ted Tozer who served as president of Ginnie Mae to get his perspectives and outlook for the Home Equity Conversion Mortgage (HECM) program. 

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Other Stories:

  • Over half of Generation X’ers cannot afford to help their parents financially.

  • You can’t take the money and run- Borrowers must return money to rescind the loan

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The Bank of Mom & Dad

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Reverse Mortgages & parental down payment assistance

[Download transcript]

It’s both a demographic and social phenomena. More parents are supporting their adult children, in many instances keeping them financially afloat according to a recent article in The Financial Brand. Many reverse mortgage originators have seen their borrowers use a portion of their loan proceeds to help pay for college or bail out their children from financial peril. That trend is expected to increase for parents of Millennials. The question is are today’s baby boomers selling out their own retirement to help their children?