While reverse mortgages can help seniors supplement regular retirement income, they’re also handy for covering expenses seniors might not otherwise be able to meet
About $996 million in Home Equity Conversion Mortgage-backed security pools were created in August, a high for the year
Reverse mortgages are not only here to stay, says one industry expert, but will continue to grow
The Office of the Inspector General for the Department of Housing and Urban Development is warning the industry about inflated reverse mortgage appraisals
Only component missing in reverse mortgages is better education for the client
Mortgage debt among seniors is at an all-time high – something lenders in the reverse mortgage market are working to address
Transparency is key when discussing reverse mortgages with clients, especially in the wake of one article about what befalls these loans when the holder dies.
The guidance of financial planners can put client minds at ease about one controversial mortgage product, but could also result in a future referral partner.