Reverse Mortgage Financial Assessment and Non-Borrowing Spouse Rules On the Way

ReverseFocusReverse Focus Weekly Podcast Episode #295

Heirs have several options when inheriting a home from a loved one that has a reverse mortgage, according to a Chicago Tribune article discussed by Shannon Hicks in this week’s Reverse Focus podcast. 

Also discussed, breaking news is on the way for the Department of Housing and Urban Development (HUD), which plans to release information in the coming weeks regarding its non-borrowing spouse and financial assessment policies.

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In another story, price transparency for the Home Equity Conversion Mortgage may be a key remedy in breaking the reverse mortgage logjam currently hindering market growth, according to the latest column from The Mortgage Professor.

Lastly discussed, senior home equity recently reached a five-year high in 2013, but still remains below peak 2006 levels, as noted by the Reverse Mortgage Market Index compiled by RiskSpan and the National Reverse Mortgage Lenders Association.

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Talking Points:

  • What happens when a reverse borrower passes?
  • HUD to release financial assessment and non-borrowing spouse info
  • Lack of price transparency hinders reverse mortgage growth
  • Senior home equity reaches 5-year high

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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