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“Reverse Mortgage Redo”
By Ann Tergeson
In an effort to shore up the federally backed reverse-mortgage program, federal housing officials are scrapping the most popular type of reverse mortgage on the market today, a move that will reduce the amount homeowners can borrow with a fixed-interest-rate loan. Read more.
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“In Hard Economy for All Ages, Older Isn't Better...It's Brutal”
By Catherine Rampell
Young graduates are in debt, out of work and on their parents’ couches. People in their 30s and 40s can’t afford to buy homes or have children. Retirees are earning near-zero interest on their savings. Read more
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“One Recession Cost is Lower Social Security Benefits”
By Bruce Bartlett
Drawing your social security benefits as soon as you are eligible can affect your long-term well-being, while deferring them offers a savings...Read more.
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“What's Right with Reverse Mortgages”
By Jack Guttentag
A recent New York Times article profiled senior citizens who had lost their homes as a result of reverse mortgages. In this op-ed, Wharton emeritus finance professor Jack Guttentag argues that the story misrepresents the program, which he calls "one of the best engineered financial tools of our generation. Read more.
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“Reversing the Negative View of Reverse Mortgages”
By Alicia Munnell, Center for Retirement Planning, Boston College
The Consumer Financial Protection Bureau recently released a report on reverse mortgages. The report is quite negative - in my view, excessively negative - and the press summaries omit many of the nuances of the original document, which makes it sound more negative than it is.
Read more.
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“Reverse mortgage safeguards overwhelm consumers”
By Tom Kelly
Reverse mortgage rates and fees have come down. Fixed rate programs are now in place. There is no other product where greater care is given, more counseling is mandatory and more questions are answered before anything is done. Read more.
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“Report Highlights a Rise in Reverse Mortgages”
By Edward Wyatt
As Baby Boomers edge toward retirement, they are beginning to transform yet another slide of the financial industry; the market for reverse mortgages, a type of loan in which older homeowners borrow against the value of their house. Read more.
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“Senior Survey: Reversing Views on Reverse Mortgages”
By Maria Wood
Are more seniors, baby boomers and even advisors taking a fresh look at reverse mortgages? Perhaps. Read more.
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“Counting on an Inheritance? Count Again”
By Ann Tergeson
Baby Boomers: Get ready for a double whammy. For years now, there has been talk about boomers getting tremendous windfalls as their parents pass on. Many boomers, in fact, have been lagging behind in their savings, betting on -- hoping for -- big bequests, especially since many of them suffered big losses in 2008. Read more.
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“Reverse Mortgages Are One Source Of Income After Retirement”
By Robyn Gautschy
At this point in your life, you've probably already paid off your home mortgage or are close to it. If you've reached this stage and wish you had some of that money available for extra expenses, a reverse mortgage might be an option. Read more.
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“Pros and Cons of Reverse Mortgages”
By Jean Chatzky
It's a question I've been getting a lot recently: should I apply for a reverse mortgage. This morning on Today, I addressed the pros and cons of doing this. Read more.
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“Reverse Mortgages Becoming Planning Tool”
By Scott Burns
The Age of Reverse Mortgages, which I wrote in April (2012), is here. We can credit a new form of reverse mortgage, the Saver Home Equity Conversion Mortgage, for getting the call rolling. Read more.
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“Reverse Mortgages: Now OK”
By Rick Kahler
Reverse mortgages, a controversial income source for older people, are a better deal for homeowners now. Like most financial advisors, I advise against using your home as a source of retirement income. But some creative new tactics and a lowering of fees make reverse mortgages worth a closer look. Read more.
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“Reverse mortgages can be beneficial, if you know how to use them”
By Harvey S. Jacobs
As the country's home-owning population ages and baby boomers hit their mid-60s, it's time to take another look at the once-popular mortgage product known as the reverse mortgage. Read more.
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“More seniors use reverse mortgages to raise cash”
By Mark Koba
Finding themselves financially strapped, more seniors at an earlier age are trying to get reverse mortgages on their homes in order to survive, according to a new report. Read more.
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“More homeowners seeking reverse mortgages at earlier age”
By Tara Siegel Bernard
In the wake of the housing market's collapse and high unemployment, a new study has found that people are using reverse mortgages to alleviate more urgent financial pressures...Read more.
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“Reverse mortgage may be best option for elderly homeowner”
By Liz Westin
Dear Liz: My healthy and active 82-year-old mother is faced with having to sell her home this year because she’s running out of money. She has lived a very minimal lifestyle for many years as her savings dwindled, and her income is now basically Social Security. Read more
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“Reverse mortgages can be good option for seniors”
By Benny L. Kass
Do you know that if you are 62 years or older you may be able to buy a house or a condominium using a reverse mortgage? A reverse mortgage allows you to get money from a lender, but you do not have to pay it back (or make any monthly payments) until you sell or die. Read more
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