In case you missed it, here’s what happened in reverse mortgage news this week:
Why One Financial Planner Launched His Own Reverse Mortgage Business—Recent rule changes and demonstrative research has helped some financial planners change their minds about the use of reverse mortgages in retirement planning. But while, some have simply adopted a newfound liking toward these products, other newly enlightened planners are taking a more active approach to serve their clients’ reverse mortgage needs.
Financial Planning Talking Points Every Reverse Mortgage Lender Should Know—While the importance of meaningful communication may sound like a cover story worthy for the front pages of glam-mags like Cosmo and Vogue, this concept is critical for reverse mortgage professionals in their ongoing efforts to forge relationships with financial advisers as well as other retirement professionals.
These Were February’s Hottest Reverse Mortgage Markets—February’s Home Equity Conversion Mortgage endorsements breathed some new life into reverse mortgage volume in 2016, with unit counts up nearly 18% from January’s slow start. As the second month of 2016 fades further away in the rear view mirror, the growth story for February was a tale of 10 cities. See which markets were the hottest.
These States Have the Lowest, Highest Property Taxes—A homeowner’s ability to pay property taxes is integral to his or her reverse mortgage eligibility and may even affect how much home equity can be tapped. But because property taxes vary from state to state, some homeowners may need to pay more to meet this mandatory obligation than others. A recent analysis from WalletHub ranked all 50 states and the District of Columbia to determine which areas have the highest and lowest property taxes in the U.S.
New Details Emerge on Reverse Mortgage Education Week—In their own ways, financial advisers, Realtors, home care workers and reverse mortgage lenders have all been critical stakeholders in the success of a senior’s ability to age with comfort and dignity. But retirement planning today requires a collaborative effort amongst these various professionals and it’s now time to break down the barriers of communication. The inaugural “Education Week” sponsored by the National Reverse Mortgage Lenders Association aims to facilitate greater reverse mortgage knowledge and conversations among these professional groups.
Written by Jason Oliva