Low Demand for Reverse Mortgages, HUD Budget Supports HECM

ReverseFocusReverse Focus Weekly Podcast Episode #400

This week marks the 400th podcast episode of Reverse Focus Weekly, which has been broadcasting for over seven and a half years.

In this week’s episode, Shannon Hicks discusses a recent article published by TIME Magazine, which describes reverse mortgages as the gateway to retirees’ biggest asset hiding in plain sight: home equity. Although home equity is often considered one of the most valuable assets retirees have, many aren’t taking advantage of this critical source of wealth, however, TIME suggests a reverse mortgage may be worth considering in retirement.

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Also discussed, a recent segment from an NBC News affiliate in Arizona covered the pros and cons of reverse mortgages, enlisting the help of a local Realtor to weigh-in on the discussion. Acknowledging that everybody’s situation is different, the Realtor noted reverse mortgages can be a “great avenue to take,” that is, if you’ve paid off your home and you’re looking for a way to sustain your livelihood with additional funds.

In another podcast story, a recent survey showed a majority of Americans have no desire for reverse mortgages. Although reverse mortgages have gained considerable attention in the past year, 60% of Americans say they have “no need” for them, at least according to a survey published by the University of Southern California in collaboration with the Society of Actuaries.

Lastly discussed, in another nod of approval from federal regulators, the Department of Housing and Urban Development’s budget proposal for Fiscal Year 2017 shows continued support for the Home Equity Conversion Mortgage program. During a press call last week, HUD Secretary Julian Castro said his agency continues to believe the HECM portfolio can continue to perform strongly and that, when used appropriately, can benefit older Americans.

To listen, login or become a free member to access past and current episodes.

Talking Points:

  • Hiding in Plain Sight: TIME Magazine speaks to reverse mortgages
  • NBC News: Realtor shows effective solution of HECM program
  • Survey says 60% have no need for a reverse mortgage
  • HUD budget shows support of HECM program

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.

Written by Jason Oliva

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