According to the National Reverse Lenders Association, more than 1,035,000 households had utilized an FHA-insured reverse mortgage by 2017. The equity value of homeowners age 62 and
Reverse Mortgages Could Mean Elderly Lose Homes
June 12, 2015 by
A recent government study has found adverts for reverse mortgages which largely target seniors can be misleading. Elderly people tempted by these offers could find they end up losing their home rather than gaining financial freedom. The Consumer Financial Protection Bureau carried out a study showing elderly homeowners are being misled by the advertising for
Pros, Cons, and Myths About Reverse Mortgages
June 2, 2015 by
As the 77 million baby boomers enter retirement at a rate of 10,000 per day, the reverse mortgage marketplace is potentially $1.9 trillion according to the Consumer Financial Protection Bureau, of which only about 10% has been penetrated to date. While this mortgage product has been around for decades, it’s affect on real estate markets
Federal Rules Improve Reverse Mortgages, But They Are Not Risk-Free
February 12, 2014 by
In the past many older Americans sought to release cash from their homes using reverse mortgages in a bid to solve money worries. Unfortunately, as the article in CNNMoney things don’t always turn out as planned, and a considerable number went on to incur more debt, or to even lose their home.Nowadays new rules have made this
Kelly Sabino Appointed by US Mortgage Corporation to Lead Reverse Mortgage Division
October 27, 2011 by
US Mortgage Corporation, a leading national banking company specializing in residential mortgages, has announced the appointment of Kelly Sabino as Director of its Reverse Mortgage division. A reverse mortgage is a government insured loan, allowing seniors aged 62 or older to access equity in their home, relieving the burden of mortgage payments throughout their retirement
