California is home to more than one-third of the country’s reverse mortgages, with more HECM loans than the next three largest markets combined. What makes reverse mortgages so popular in California? There doesn’t appear to be one single answer. Rather, it’s likely a confluence of unique economic, structural and cultural ingredients that, when combined, give rise to an environment where utilizing home equity to support your retirement years just makes sense....
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A major forward-mortgage consulting firm recently took a deep look into the potential diversification through reverse products, and ended up wondering what top players are waiting for.
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At a hearing titled Turning 65: Navigating Critical Decisions to Age Well, experts from the public and private sectors testified last week before the Senate Special Committee on Aging on the challenges facing Baby Boomers when they enroll in Medicare and Social Security....
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The vast majority of financial advisers fail to incorporate home equity planning or reverse mortgages into their practices, which may put their clients in a worse situation than if there had been an error of omission. Compensation models, a lack of education and specific compliance policies are some of the reasons why this may be occurring. ...
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Reverse mortgages should be one of the tools that retirees and their financial advisers consider on a case-by-case basis when evaluating options for improving retirement security, according to a new study published by the Stanford Center on Longevity, in coordination with the Society of Actuaries....
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