In this week’s Reverse Focus podcast, Shannon Hicks discusses that as home prices continue to climb, they are “returning with a vengeance,” according to the latest data from S&P/Case Shiller Home Price Indices, which revealed both monthly and yearly gains in the top-20 cities nationwide.
Also discussed, as regulators plan to merge the Standard and Saver reverse mortgage products, upcoming program changes could mean less money available for borrowers, but also a reduction in the default rate under the program.
Recently, the National Reverse Mortgage Lenders Association issued a reminder of reverse mortgage counseling safeguards and protocols to all HUD-approved counseling agencies, timing its release with the influx of counselees that are expected to arise as a result of upcoming program changes.
Lastly, baby boomers may earn a new nickname as the “Baby Bummer” Generation, according to a new report from Bank of America Merrill Lynch, which states that even with a reverse mortgage, boomers still risk running out of money during retirement.
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- Home prices return “with a vengeance”
- Wall Street Journal talks upcoming reverse mortgage changes
- HUD counseling reminder timed with program changes
- The Baby Bummer Money Drain
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Editor’s Note: These posts are sponsored by Reverse Focus.