About Reverse Mortgages
Sacremento Bee, October 28th, 2009
Our three new "Ask the Experts" writers have been busily answering financial questions this month from online readers.Here's a sample of their advice on personal finance, wills/estates and investing.To
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San Francisco Examiner, October 22nd, 2009
A HUD reverse mortgage
can provide seniors with a sufficient cash flow during their retirement
years that can enable them to live more comfortably than they often
could otherwise. Options in a new reverse
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San Francisco Examiner, October 21st, 2009
A government-issued reverse mortgage, or Home Equity Conversion
Mortgage (HECM), is a great way to provide a more solid financial
future for yourself. Sometimes, though, even better deals can be made
possible
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The Wall Street Journal, October 21st, 2009A year ago, Pedro Garcia and his terminally ill wife, Julia, were
about to be evicted from their home of nearly 40 years after their
mortgage lender foreclosed on the loan.
Today, Mr. Garcia is living in
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The New York Times, October 14th, 2009MANY retirees are in a cash crunch — with a lower income stream from their investment portfolios, personal expenses that are higher than expected, or both. While
most assets can be used to generate liquidity,
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Chicago Tribune, October 8th, 2009A national consumer advocacy organization added its voice Tuesday to a
growing chorus of concerns about the rapidly growing popularity of
reverse mortgages, comparing the loan product's potential pitfalls to
subprime
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Chicago Daily Herald, October 2nd, 2009Declining home values have put a serious squeeze on one
of the mortgage market's most popular and fastest-growing financing
concepts: the Federal Housing Administration's reverse mortgage program
for seniors 62
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CNN, September 1st, 2009On the face of it, a reverse mortgage sounds like a no-lose deal for
older homeowners. A lender gives you what amounts to a cash advance on
your home equity -- no minimum income or credit score required. And you
don't have to
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San Jose Mercury-News, August 21st, 2009Ann
Tubbs and Ehtesham Majid left behind their house in Moraga more than
two years ago to enjoy the urban lifestyle of San Francisco. The
retired couple ended up renting a place in the city but eventually
hoped
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Editor's note: The article below is extremely technical, and intended for readers already very well versed in the details of reverse mortgage legislation and regulations. For those not yet fully versed in reverse mortgages yet, we recommend
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The Washington Post, August 9th, 2009
Reverse mortgages have been around for nearly 20 years, but it wasn't
until the current financial crisis that they caught on. Seniors are
turning to these loans to tap the equity in their homes and generate
tax-free
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Norwich Bulletin, July 20th, 2009Typically used for income during retirement, reverse mortgages are
finding their way into the affluent marketplace as a vehicle for
advanced planning.
Paul Savery, a reverse mortgage consultant with Wells Fargo Home
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Washington Post, August 10th, 2009
Reverse mortgages have been around for nearly 20 years, but it wasn't
until the current financial crisis that they caught on. Seniors are
turning to these loans to tap the equity in their homes and generate
tax-free
Read More
Center for Retirement Research at Boston College, July 21st, 2009
Although it remains the goal of many households to repay their mortgage
by retirement, an increasing proportion now enters retirement with a
mortgage. At the same time, households
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Time, July 20th, 2009While the recession hasn't spared any age group, it's been particularly
brutal for older Americans who were counting on their (now shrunken)
nest eggs to last through their retirement years. To supplement their
stash, an increasing
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