Programming Note: RMD Presidents’ Day Weekend Schedule

Thank you once more to Reverse Mortgage Daily’s dedicated base of readers for a great start to 2019’s coverage over the past couple of months! As a reminder, RMD’s Chicago headquarters will be closed on Monday, February 18 in observance of Presidents’ Day. Our normal posting schedule and daily email will resume on the morning […]

Forbes: Tax Issues Surrounding Reverse Mortgage Repayment

Once a Home Equity Conversion Mortgage (HECM) comes due, there are certain options that are available to the relevant borrowing parties when repaying the loan’s balance, but they also come with their own tax implications. This is according to Dr. Wade Pfau, professor of retirement income at the American College of Financial Services and a […]

Abandoning the ‘Wild West:’ How Financial Advisors are Evolving on Reverse Mortgages

Evidence continues to mount concerning an evolving relationship between the reverse mortgage industry and fiduciarily responsible financial advisors. While there is still a stigma surrounding reverse mortgage products for a lot of those offering financial advice to their clients, RMD has seen evidence of forward momentum on the part of some organizations becoming increasingly willing […]

Lenders Aim to Make Private Reverse Mortgages Available in More States

Private alternatives to the government-insured Home Equity Conversion Mortgage (HECM) are becoming more popular — particularly for people with high-value properties — and have been seen by some in the reverse mortgage industry as a possible factor that could save the business from generally reduced volume, and the still-felt impact of October 2017’s changes to […]

The Causes and Effects of an Early Retirement

Over a third of all American workers retire earlier than planned, and do so for various reasons that can relate to health, employment, family and finances, but these kinds of shocks still only comprise only a quarter of recorded early retirements. This indicates that other factors are at play, according to a new research brief […]

Forbes Offers Reasons to Avoid Reverse Mortgages

There are at least four major reasons that potential borrowers should avoid taking a reverse mortgage, according to economics professor Teresa Ghilarducci of The New School based in New York, N.Y. in a new column at Forbes. While admitting that reverse mortgages may work for some, she says that is not true of everyone. However, […]

RMS Updates Reverse Mortgage Borrowers As Parent Company Restructures

Ditech Holding Corporation (NYSE: DHCP), parent company of Reverse Mortgage Solutions (RMS), announced today that it has filed filed for voluntary reorganization under Chapter 11 of the U.S. Bankruptcy Code. As a result of the process, some borrower payments may have been temporarily impacted, the company said in a notice to customers. Certain subsidiaries including […]

Active 55+ Communities Present Growing Reverse Mortgage Opportunity

Lifestyle communities for residents over the age of 55 can be popular retirement locations for seniors, with a whole host of regular activities, encouragement of an active lifestyle and engagement with people from a senior’s own generation. On top of the benefits to potential residents, builder confidence in age-restricted 55-plus housing ended 2018 on a […]

Social Security Minimum Benefits Fail to Prevent Senior Poverty

The Social Security program’s minimum benefit for retirees who have very low career earnings fails to prevent a beneficiary in this category from staying out of poverty, and the benefit itself is continually being eroded because of a design flaw. This is according to a new research brief released by the Boston College Center for […]

Freddie Mac: Aging in Place Causing Available Housing Shortage

In 2019, the United States will fall short of meeting its housing needs by roughly 2.5 million units, while simultaneously members of the millennial generation are buying fewer homes at this point in their lives compared with previous generations at similar periods. While aging in place is touted as the preferred solution for many older […]