Post Profile






Are HECM Reverse Mortgages Overpriced?

HECM reverse mortgages are reputed to carry high upfront fees, which raises two questions addressed here. First, are seniors getting real value in exchange for the high fees? The answer in most cases is "no". Second, can a senior who knows the ropes avoid paying excessive fees? The answer in every case is "yes." Price Differences Do Not Necessarily Reflect Over-Pricing In the early part of the previous century, when Coney Island was a playground for both the rich and famous and those who were neither, there were two restaurants that specialized in hot dogs.
read more

share

Related Posts


The HECM Reverse Mortgage Program Gets a Makeover

Business & Finance : Huffington Post: Business Blog

Last month, FHA announced a series of sweeping changes in the HECM reverse mortgage program, most of which have already taken effect. The changes are a response to increasing losses suffered by FHA in connection with the extensive m...

Breaking the Logjam on HECM Reverse Mortgages (Pt. I)

Business & Finance : Huffington Post: Business Blog

People reaching retirement age are living longer than ever, and retiring with less capacity to maintain their living standards. With good reason, this situation has been termed a "retirement funds crisis." Yet most retiring seniors ...

Breaking the Logjam on HECM Reverse Mortgages (Part II)

Business & Finance : Huffington Post: Business Blog

The first article of this series discussed some modest initiatives my colleagues and I have taken to help enlarge the market for HECMs. These included a monograph on matching HECM options to senior needs, a senior-friendly calculato...

To Avoid Outliving Your Money, Take a HECM Reverse Mortgage Before Interest Rates Rise

Business & Finance : Huffington Post: Business Blog

Many seniors in retirement are concerned that they may outlive their financial assets. If they have equity in their homes, however, they can reduce or eliminate this worry. They can use the HECM reverse mortgage program to generate ...

Wells Fargo Quits Reverse Mortgages Because Foreclosing On Seniors "Creates More Reputational Risk Than Value"

Business & Finance : Business Insider: Money Game

Wells Fargo announced on Thursday that it was exiting its reverse mortgages business, as Bank of America did earlier this year. Reverse mortgages, in which banks loan money to seniors that is payable upon death or sale of a house, h...

Comments


Copyright © 2016 Regator, LLC