Appraised values coming in low continue to be a big hurdle for reverse mortgage borrowers, so Next Generation Financial Services released a new educational worksheet for consumers considering a reverse mortgage to help explain the fluctuation in home values.
"In the current housing market environment, it is more important than ever that we do everything we can to educate consumers on the actual home value versus their perceived home value,” said Founding member Doug McLain.
“Many seniors are very disappointed when their HUD appraisals come back much lower than expected. Therefore, in order to serve our communities and our customers better, we have developed a new worksheet designed to educate about actual home values.”
Understanding The Current Housing Market: “Actual Home Value” Vs. “Perceived Home Value explains how property values across the country are seeing drastic changes due to the numbers of homes that are being foreclosed on and sold at deep discounts.