A number crunch by credit reporting agency Centrix brought up a truly remarkable statistic. They found 8 percent of people in the Silent Generation aged 76 or over still had mortgages.
Continue readingWhy do so many seniors still have a mortgage?
HECM % Deductions & New Tax Law
Reverse mortgage interest is deductible in many circumstances. However, there are some cases when it is not.
Continue readingRobbing Peter to Pay Paul: Friday’s Food for Thought
It’s a consequence of the payroll tax cut extension: increased FHA premiums. Reverse mortgage borrowers may see increases of ongoing insurance premiums. Should borrowers bear the burden for a tax cut for working Americans?
Continue reading“Necessary evil”
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Tax And Insurance Default
The topic of Tax And Insurance Default is a hotly debated issue in the Reverse Mortgage Industry, but recently HUD issued a guidance letter that gives some direction to reverse mortgage lenders.
