Debt has risen among older adults which could correlate with multiple illness diagnoses, but secured debt was less detrimental than unsecured debt according to data Older adults who find themselves burdened by debt in later life are faring worse on a variety of health-related issues when...
Reverse mortgages have often been described by both industry insiders and outside observers as having a reputational problem with the general public. However, as more product reforms have proliferated on the side of the Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgage (HECM) program and...
Rising rates may begin to be having their first effects on the activity of the reverse mortgage industry, based on the latest industry performance metrics for the prior month and according to leading industry analysts. Home Equity Conversion Mortgage (HECM) endorsements fell in May 2022 by...
Tapping home equity could make sense for some, but is a complicated decision that should be examined from all angles according to a new column. Reverse mortgage loans available to homeowners aged 62 or older could be a viable consideration for those seeking to find a...
The new column describes a climate of interest among financial planners for reverse mortgages, as they advise clients through a turbulent economy In a climate of general market volatility and high inflation, reverse mortgages may have become a more attractive option for seniors of qualifying age....
Karen Surca, of MPA, sat down with Christian Mills, head of financial advisor relations with RMF, to discuss the growing popularity of reverse mortgage options for the older American demographic, and why this mortgage option should be viewed as a key retirement tool. Once viewed with...
What is a reverse mortgage? A reverse mortgage loan is a home equity product designed for older homeowners. Unlike other mortgages, these don’t require monthly payments. Instead, the lender pays the homeowner. Here are some other important things to know about reverse mortgages: They’re for seniors. Government-backed reverse mortgages...
‘This is not the retirement I envisioned.’ Managing one’s finances in retirement is always tricky. But with inflation pushing up the price of everything from gas to housing to eggs, many retirees are cutting back or eliminating certain costs altogether. CNN Business spoke with several retirees about...
The difficult economic situation has hammered the 4% rule – a longstanding guide for retirees looking to sustainably spend down their assets – according to the rule’s creator High levels of inflation and high stock valuations mean that any retiree following the longstanding “4% rule” –...
Options for bringing in cash after someone has closed the book on a career can be limited, but for those willing to entertain the option with a clear path to a material benefit, a reverse mortgage could provide one such path to new cash flow...
