After speaking with several financial planners for a recent article on RMD, it became clear the industry faces a serious problem… Financial planners have little to no knowledge about reverse mortgages. When asked if they had recommended—or would ever recommend—one of these loans to their clients, the first few planners responded negatively, but were largely [...]

CBS’s locally produced Morning Blend recently ran a segment about a campaign to raise awareness of the need for long-term care, mentioning the possibility of using a reverse mortgage to pay for a long-term care policy. Two members of the 3in4 Need More campaign appeared on the show along with Gregg Smith, the president of [...]

The Senate Appropriations Committee yesterday restored $125 million of funding to the US Department of Housing and Urban Development, in a move that will help HUD-approved counseling agencies to continue providing their services to reverse mortgage-seeking seniors at little to no cost. On Wednesday, the committee approved the Transportation and Housing and Urban Development (THUD) [...]

Reverse mortgage companies are seeking new originators, underwriters and licensed reverse mortgage consultants in light of recent bank exits. If you are seeking a new opportunity in wholesale or retail, visit Reverse Mortgage Jobs Online. If you have experience in the reverse mortgage industry, or if you are looking for companies that provide leads to originators, [...]

Reverse mortgages can be a lifeline for low-income seniors, reports a recent AOL Daily Finance article. The product can be “very valuable” in situations where an eligible senior has home equity but not a lot of monthly cash flow, the article quoted Margot Saunders, a counsel with the National Consumer Law Center, as saying. “If [...]

Counseling agencies are helping a growing number of reverse mortgage borrowers who have gone into technical default on their taxes and insurance, in response to government-issued guidance on delinquency proceedings in January 2011. Although there are no absolute figures, some estimate that about 5% of reverse mortgage borrowers have defaulted on their taxes and insurance, [...]