A financial columnist who used to be negative on reverse mortgages recently acknowledged that they can be a good product in the right situation. Here’s an article highlighting Benny L. Kass’s evolution on the subject: Syndicated Financial Columnist Evolves on Reverse Mortgages A syndicated financial advice columnist who once only recommended
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What’s the deal with reverse mortgages? This question was addressed in a recent Housing Wealth in Retirement Symposium held on March 23, 2018, in Washington, DC. The event was co-hosted by The American College of Financial Services and the Bipartisan Policy Center. While the symposium took a broader look at
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U.S. News and World Report came out with a good article on reverse mortgage lender. Here’s a snippet: If you own your home and are 62 or older, a reverse mortgage could allow you to access your home’s equity without selling or moving from your property. It’s important to understand
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Why take out a HECM (reverse mortgage)? There are many good reasons, and some bad ones. This article from Investopedia lays out some of the good ones for why a senior citizen might want a reverse mortgage. The main reason to take out a reverse mortgage is that your home
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An article from NMLA notes that Stanford Center on Longevity, in coordination with the Society of Actuaries, advocates for retirees in some cases to tap into reverse mortgages as one of their retirement income options. Reverse mortgages should be one of the tools that retirees and their financial advisers consider
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About 10% of the homeowners aged 65 and older would benefit from the use of home equity extraction tools, according to a new study from the Urban Institute — but major structural and institutional barriers remain. Researchers Laurie Goodman, Karan Kaul, and Jun Zhu explored the untapped market for reverse
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From ReverseMortgageDaily.com: About 10% of the homeowners aged 65 and older would benefit from the use of home equity extraction tools, according to a new study from the Urban Institute — but major structural and institutional barriers remain. Researchers Laurie Goodman, Karan Kaul, and Jun Zhu explored the untapped market
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Research by the Insured Retirement Institute reflects that 24% of baby boomers have no retirement savings – which is the lowest number recorded since the beginning of the study in 2011. Another sobering data point shows only 55% of baby boomers have some retirement savings and, of those, 42% have
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A CNBC article pointed out a few recent changes to the HECM: Higher upfront costs, a lowered principal limit factor and an interest-rate deduction. Advisors have recommended clients use reverse mortgages for cash management, delaying Social Security withdrawals and funding long-term care. In August the Consumer Financial Protection Bureau issued
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The reverse mortgage industry lives in a new world after October 2, 2017. That is because new HECM (the industry term for reverse mortgages; it stands for Home Equity Conversion Mortgage) rules protect consumers by standardizing and simplifying the disclosure of costs.
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*This is not a sales call. We want to educate you with the facts you need to know about reverse mortgages so you can make an informed decision.
Dennis Sanchez
NMLS #281480
BRE #01179128
California CPA #34077 (inactive)
DS Consulting
NMLS #793097
