A reverse mortgage can be like marriage, The Chicago Tribune reports in an article this week—”the experts say, these are arrangements not to be entered into unadvisedly or lightly.” The article, titled “Reverse Mortgage a Tricky Way to Pull Money From Home,” includes insight from AARP legislative policy director David Certner. Reverse mortgages are something to [...]

Homeowners tend to believe that while borrowing against their home equity is a valuable option, it should be used as an emergency action, a survey reported by Origination News finds. The article, “Home Equity Loans: For Emergencies Only?” reports on a study conducted by Ipsos Marketing on behalf of the Consumer Bankers Association, which surveyed [...]

Over the last few months, the two largest providers of reverse mortgages suddenly announced they would no longer originate the product. Interestingly enough, investor reaction to each exit has been very different, and that difference may suggest the staying power of reverse mortgages. While the departure of Wells Fargo initially rattled those in the industry [...]

In his nationally syndicated real estate column recently, writer Lew Sichelman was asked by a 78-year-old reader with a three-year reverse mortgage whether there would be “any condition under which a financial organization issuing a tenure-type reverse mortgage can lower the payments to the customer without the customer’s permission.” RMD reached out to industry practitioners with plenty of experience [...]

ABC News is reporting today that reverse mortgage borrowers have “little to fear” in the wake of Wells Fargo’s exit from the retail business, as it follows the departure of Bank of America from the origination business earlier this year. In an article titled “Reverse Mortgages: Customers Have Little to Fear as Wells Fargo and [...]

For the first time in eight months, home prices saw a month-over-month increase in April according to the Standard & Poors/Case-Shiller Home Price Indices. During April, the 10- and 20-City composite indices increased 0.8% and 0.7% respectively, compared with their March 2011 levels. Both indices remain below their April 2010 levels. “In a welcome shift [...]