Homeowners 62 and older saw their housing wealth grow by 3.98 percent or $405 billion in the fourth quarter to a record $10.6 trillion from Q3 2021, according to the latest quarterly release of the NRMLA/RiskSpan Reverse Mortgage Market Index. Read more…

As a reverse mortgage borrower, you know, that although you don’t have to make monthly mortgage payments, you are still responsible for the maintenance of your home and the payment of property taxes and homeowners insurance on it. If you fail to meet these loan obligations, your lender or loan servicer can legally call your […]

Retirees are declaring bankruptcy at far greater rates today than in years past. In fact, the bankruptcy rate for those 65 and older has increased by more than 200% from 1991 to today. Read more…

There seems to be an impression that taking out a reverse mortgage is an act of desperation by people who have no choice but to crack open and spend their nest egg of housing wealth. Read more…

At first, economist Larry Kotlikoff was skeptical of reverse mortgages but because of the similarities with an annuity, he has recently changed his mind. Read more…

Part of the motivation to be a homeowner is the opportunity to accumulate growing equity in a home. Equity growth is heavily influenced by market changes over which the owner has little control. Read more…

According to an Aegon Center for Longevity and Retirement study, 49% of Americans related that their primary retirement fear is running out of money. When it comes to mitigating the dreaded “longevity risk,” four recommendations emerged based on expert analysis, and reverse mortgages were one of the options cited. Read more…

The Department of Housing and Urban Development has announced the maximum claim amount of federally backed reverse mortgages will be increased to $970,800 for 2022. Read more…

In an environment where seniors’ retirement futures have already been put at risk by dwindling savings and disappearing pensions, the idea of the reverse mortgage is to allow a senior to use the equity in their home to either meet necessary expenses in old age, or to enhance their quality of life in retirement. Read […]

While recent legislation aimed to assist Americans in the midst of economic turmoil caused by the COVID-19 pandemic has been beneficial, mortgage forbearance options made available to people through the Coronavirus Aid, Relief, and Economic Security (CARES) Act have not addressed other living expenses that could leave people on fixed incomes vulnerable. This is why […]