FHA Loans More Expensive? A “Frightening” Retirement for Boomers

ReverseFocusReverse Focus Weekly Podcast Episode #255

In this week’s Reverse Focus podcast, Shannon Hicks discusses former Department of Housing and Urban Development Secretary Henry Cisneros’ praise for reverse mortgages as a “sensible option” for those wishing to age in place. Reverse mortgages, according to Cisneros, do not only provide financial sensibility, but also help give meaning to one’s life.

Also discussed, Reverse Vision went bi-coastal with the opening of a West Coast office in San Diego. The new office expands the company from its existing headquarters in Raleigh, North Carolina, with the aim of providing better support tits customers out West.

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There has been much discussion lately among policymakers about the need for more private capital to return to the mortgage marketplace and less reliance on the Federal Housing Administration (FHA). A recent article from the L.A. Times writes that privately insured loans are beginning to look less expensive to lower and moderate income buyers as a result of FHA’s mortgage insurance premium increases.

Lastly, Hicks observes sobering retirement statistics recorded by Fidelity Investments, which Ronald O’Hanley, Fidelity’s president of asset management and corporate services, calls “ugly” and “frightening.” To avoid a “destitute financial future,” O’Hanley proposes a four-pronged plan to help remedy the situation plaguing Baby Boomers who have saved too little.

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Talking Points:

  • Former HUD Secretary touts reverse mortgages
  • Reverse Vision expands out West
  • FHA loans beginning to lose their appeal?
  • Retirement statistics look “ugly” for Boomers

Listen Now. “Reverse Focus is the ultimate resource for reverse mortgage professionals providing the technology, training and marketing to grow your business. We are your one-stop resource for those committed to taking their business to the next level.”

Editor’s Note: These posts are sponsored by Reverse Focus.

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