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Friday Round-Up: Reverse Mortgages Go Hollywood, Home Equity Tech Startup

Another Friday is upon us and that means only a few hours stand between you and the weekend. But before you take off, check out the top reverse mortgage headlines grabbing the attention of RMD readers this week:

New Social Security Rules Play Into Reverse Mortgage Retirement Strengths—Changes to the Social Security program enacted this year are lending credence to reverse mortgages as a viable retirement income planning strategy, according to some retirement experts during a recent webinar held this month.

Tech Startup Puts New Twist on Unlocking Home Equity—A technology startup that aims to revolutionize how U.S. homeowners access their housing wealth raised $8.4 million this week, with one of the world’s largest private equity firms leading the fundraising. The company, Point, touts itself as the first financial technology platform that allows homeowners to unlock their home equity without taking on new debt.

Why This Financial Advisor Isn’t Sold on Reverse Mortgages—Certified Financial Planner Dan Moisand has been working with retirees for over 25 years and has seen many ups and downs in the reverse mortgage product, but he still isn’t entirely convinced these loans are worth the hype, he explains in a recent article published in Financial Advisor Magazine.

These Are the Cities Powering Reverse Mortgage Volume in 2016—August provided a welcoming reprieve from months of declining reverse mortgage volumes, with endorsements growing as much as 24% on a monthly, industry-wide basis. With all regions across the U.S. reporting growth in August, the month was especially productive for some major metropolitan areas, according to the latest reverse mortgage industry data.

This is a Hold Up: Hollywood Western Takes Aim at Reverse Mortgages—A recent Hollywood blockbuster puts reverse mortgages at the center of conflict in a western thriller about two brothers going to extreme lengths to preserve their family home. Suspenseful, gritty and, at times, comical, the film is a wild box office pleasure, but it likely won’t do much to repair the already bruised reputation of reverse mortgages in the public eye.

Written by Jason Oliva