In this week’s Reverse Focus podcast, Shannon Hicks discusses the public’s changing perception of reverse mortgages from a loan of last resort to a loan poised to be a mainstream financial strategy. Financial services are also vying to make reverse mortgages more appealing as home equity is key to many Americans’ retirement strategy.
Reports also show how last year’s overhaul of the HECM program helped reverse mortgages overcome past stigmas, and a recent study revealed that the use of a reverse mortgage can improve chances of financial stability of up to 30 years when based on simulated retirement portfolios.
Also discussed, House Republicans are supporting 11 different bills that will affect the way the Consumer Financial Protection Bureau (CFPB) conducts business. Proposed changes include an inspector general just for the CFPB and making some meetings open to the general public.
Lastly, half of Americans say saving for retirement is their top financial goal, April poll results show. And the percentage of adults which name adequate retirement resources as their top finical goal has been rising since Great Depression, data show.
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- Reverse Mortgages are safer. Should you?
- Shorter leash. GOP seeks to reign in CFPB
- Bloomberg: A ‘boon’ for boomers
- Only half say saving for retirement top goal
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.