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) […]
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 […]
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 […]
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 […]
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 […]
The Federal Trade Commission (FTC) released a report this week dedicated to educating American consumers on the biggest ways in which fraudsters attempt to take advantage of American seniors, detailing the 10 most prevalent forms of scamming taking place against older Americans. The determination was based on data collected from surveys from federal agencies in […]
Product education is a major focus of reverse mortgage companies, and a major focus of the industry’s educational efforts in recent years has been focused on the financial advisor community. When advisors have an aversion to the product category, it’s the industry’s hope that additional information about reverse mortgages can help them to “come around” […]
As more seniors continue to try and find new ways to make financial ends meet during the ongoing COVID-19 coronavirus pandemic, some may naturally turn to new types of products or services for them, which can include reverse mortgages. Nevertheless, some seniors still remain apprehensive about the product category, which has spurred online personal finance […]
Finance of America Reverse (FAR) announced on Thursday that it has entered into an educational program with Stanford University research arm the Stanford Center on Longevity (SCL), an organization designed to foster thinking and action on issues related to longer life by pooling the resources of academic, business, government and nonprofit leaders. FAR has joined […]
For seniors who may feel squeezed by the necessity of paying taxes in retirement on a fixed income, there are a number of ways in which a senior might be able to reduce their tax burdens in retirement. One of the possible methods can include a reverse mortgage, according to financial planner Erik Carter in […]
