Here we are at yet another Friday. The weekend is in sight, but before you take off…in case you missed it, here’s what happened in reverse mortgage news this past week:
What Realtors Should Know When Selling Homes with Reverse Mortgages—Real estate agents face a swelling Baby Boomer population that is looking toward home sales as a means to unlock their housing wealth. But as this demographic ages and becomes eligible for reverse mortgages, Realtors will also face the unique set of requirements that apply when the homeowner, their adult children or estate, puts up a home with a reverse mortgage for sale.
FOIA Request Sheds New Light on Financial Freedom Reverse Mortgage Foreclosures—Following a partially granted Freedom of Information Act (FOIA) request issued Wednesday by the Department of Housing and Urban Development, a Calif.-based non-profit group is now calling for a moratorium on any additional reverse mortgage foreclosures by CIT Group, Inc. (NYSE: CIT) and its subsidiary, Financial Freedom.