In case you missed it, here’s what happened in reverse mortgage news this week:
Reverse Mortgages Can Protect Against New Medicare Surcharges—This year, Medicare introduced a new income scale that will make paying for certain coverage options such as Medicare Parts B and D more expensive once they take take effect in 2018. However, a reverse mortgage might be able to help seniors maximize their savings against these new Medicare surcharges, according to a recent Investment News article.
Back to Basics: Reverse Mortgage Industry Outlook for 2016—A lot has changed for the reverse mortgage industry in the last few years. For the first time in what seems like a long time, there aren’t any major program updates looming on the horizon. And now that the industry has adjusted to the brunt of new rules and processes, in what has been year after year of adaptation, it seems that 2016 may finally signal a return to normalcy, at least to some degree.
Reverse Mortgage Volume Stunted by Ongoing Wholesale Decline—Reverse mortgage volume may have ended 2015 with a slight endorsement bump in December, but the prelude to that is a downward spiral of production from the wholesale channel, according to recent industry data.
Reverse Mortgages Enhance Retirement When Life Annuities Can’t—There are ways in which a reverse mortgage can be used similarly to, and even complement, a life annuity. But determining which product works best for a borrower’s retirement plan requires careful consideration of the advantages and disadvantages of each strategy.
CBS News: DIY Retirement Planning Makes Room for Reverse Mortgages—As many people grapple with how they’ll prepare for their non-working years, some may be forced to take on a “do-it-yourself” approach to diversify their assets, and that could mean incorporating a reverse mortgage into their retirement plans, suggests a recent article from CBS News Money Watch.
Written by Jason Oliva