Time/NextAdvisor: Know Reverse Mortgage Pros and Cons Before Getting One

A senior considering a reverse mortgage loan should consider all the potential risks and rewards in equal measure before deciding whether or not to get such a loan. This is according to a new column by personal finance columnist Joe Cortez at NextAdvisor, as published by Time. “Fear of COVID infection at nursing home facilities […]

Forbes: Why Reverse Mortgages Can Help Against Property Value Risk

For someone looking for a hedge against property value risk, a senior may not need to look any further than a Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgage (HECM) loan. This is according to Jack Guttentag, aka the “Mortgage Professor,” in a new column published by Forbes. Tied to the motivation for someone to […]

Academy for Home Equity Releases Model Reverse Mortgage Compliance Language for Financial Planners

The Academy for Home Equity in Financial Planning (AHE) at the University of Illinois Urbana-Champaign has released a new publication, proposing guidance language for broker-dealers and investment advisory firms to use to help govern planners’ interactions with reverse mortgage products. The publication — featuring contributions from people including Dr. Craig Lemoine, Betty Meredith CFA, Dr. […]

With New Social Security Guides, RMF Hopes Education Leads to Reverse Mortgage Consideration

Reverse Mortgage Funding, LLC (RMF) has announced the availability of two new, digital Social Security guides for 2021. One is designed to help consumers maximize retirement benefits, while the second aims to support planning professionals in better serving the long-term financial goals of their clients. By spearheading education on this important topic for retirees, it […]

Why Clarity is Key for Reverse Mortgage Post-Death Issues

Death is always a disruptive occurrence, and in the realm of financial planning, it can be a critical point at which surviving heirs need to make some key decisions regarding the fate of a decedent’s estate and assets. For someone who had a reverse mortgage on his or her home at the time of death, […]

‘Understanding Reverse’ 2021 Update Aims to Ease Reverse Mortgage Education

The latest edition of reverse mortgage educational reference book Understanding Reverse has been published, marking the seventh consecutive version and featuring updates shaped by new and evolving realities of the reverse mortgage product category. The latest version of the book includes approximately 70 changes touching on topics including the updated Home Equity Conversion Mortgage (HECM) […]

Forbes: Why Reverse Mortgage Borrowers Make Mistakes

While Home Equity Conversion Mortgages (HECMs) have significant potential as financial tools for seniors who are trying to create cash flow in retirement, sometimes the benefits of HECMs can lead to a series of mistakes made by their borrowers. Access to an influx of cash can sometimes lead to irresponsible spending, with that cash chipped […]

Reverse Mortgage Lender Forges Educational Partnership With Financial Service Association

Multi-channel mortgage lender CrossCountry Mortgage, LLC has announced the creation of a new educational partnership with the Society of Financial Service Professionals (FSP), an association made up of CPAs, attorneys, insurance experts, and financial advisors from many disciplines. The partnership is specifically designed to educate FSP members on the reverse mortgage product category, specifically the […]

Why Reverse Mortgage Pros Should Avoid Saying ‘Always’ and ‘Never’ to Clients

Considering that the reverse mortgage industry is the subject of a lot of misguided information in the minds of the public, one of the most efficient paths to improving the reputational issues of the industry comes in direct interactions between loan originators and their clients. Words in these instances matter, which is precisely why absolutism […]

Why Reverse Mortgage Professionals Should ‘Stay in Their Lane’

A reverse mortgage professional can often be seen as many things to current and prospective clients, which is likely unavoidable in many cases due to the far more consultative nature of the reverse mortgage product when compared to its forward counterpart. However, this is precisely what can lead to many reverse mortgage professionals wanting to […]