Propriety Reverse Mortgage Products Could Eclipse FHA’s HECM Program in 2019

Jul 2, 2019, Jamie Hopkins Contributor — Director of Retirement Research at Carson Wealth

The reverse mortgage market world heads in reverse away from the government created Home Equity Conversion Mortgage (HECM) and towards new propriety products. This is an encouraging sign because any healthy market needs competition, innovation, and variety. However, recently HECM program has been the driving force behind the reverse mortgage world, leaving many without an ideal solution to utilizing home equity as part of a sustainable retirement plan.

Financial Literacy for Seniors: Practical Money-Management Advice

Photo courtesy of Pexels

Financial literacy and money management skills are important at any age. In one’s youth, it’s important to save up for retirement. In retirement, it’s important to properly manage money so that you can continue to live comfortably while also paying for any unexpected medical bills or other expenses. If you’re a senior, or you have a senior loved one who is looking to improve their finances, this is the article for you.

Senior Housing Wealth Hits New High of $7.14 Trillion; Fuel HECM?

By Chris Clow | June 24, 2019 REVERSE MORTGAGE DAILY

Homeowners age 62 and older saw their collective housing wealth increase in Q1 2019 by 2.7 percent compared to the previous quarter. This constitutes an increase of approximately $104 billion to a record of $7.14 trillion, according to data provided by the National Reverse Mortgage Lenders Association (NRMLA) in conjunction with data analytics firm RiskSpan. The increase was reported Monday in the quarterly release of the NRMLA/RiskSpan Reverse Mortgage Market Index (RMMI).

American Seniors Prefer to “Age in Place”—But What’s the Right Place?

Karan Kaul

As more Americans near retirement age, they’re grappling with where they should live as they grow older. Should they stay in their existing homes? Sell and buy a smaller home? Become renters?

Although there is no single right answer, a recent, private convening of experts on aging and retirement hosted by the Urban Institute highlighted the need to think about both aging in the right place and how to pay for it.