Nearly 7 Million People Had LTC Insurance in 2017

6.8 million people, over 13 percent of Americans aged 65 or older, held a long-term care (LTC) insurance policy in 2017. Nationwide, across all ages, about 2 percent of the total U.S. population had an LTC policy that year, with most people who own one being at least age 50. This is according to data […]

A Deeper Look into Canadian Reverse Mortgage Growth

Demand for reverse mortgages in Canada continues to grow, presenting a stark contrast to the declining volume exhibited in the American reverse mortgage market. On top of specific product differences in the Canadian product, there’s also a different business climate over the northern border that accounts for some of the differences between the two nations’ […]

Florida Dominates List of Affordable Retirement Cities

Locations in the state of Florida dominate the list when it comes to most affordable cities for retirement, but the top spot emerges out of South Dakota, according to senior active adult community site 55places.com. They have compiled a list of the top 20 most affordable cities to live in retirement, based on a survey […]

What Reverse Mortgage Firms Can Learn from Florida Case Judgment

A recent reverse mortgage court decision in Florida could have an impact on loans in other states. The court’s determination that a loan can be called due and payable at the maturity date rather than upon the death of the borrower has the potential to drive decisions in other states, an attorney tells RMD. It […]

Family Circle Magazine Touts Reverse Mortgage Possibilities

Reverse mortgage products are being described as the possible source of a “financial boost” for seniors with a need for supplemental income in a magazine primarily aimed at home economics and women’s interest topics, giving the supermarket shoppers who primarily buy the publication a little-seen perspective on home equity release. In an article titled “A […]

Why iReverse Home Loans is Moving into the Forward Mortgage Space

Reverse mortgage firms have had to find new ways to adapt to the realities of business, particularly in the wake of highly influential changes to principal limit factors (PLFs) handed down by the Department of Housing and Urban Development (HUD) in October of 2017. While some are focused more squarely on innovating ways to conduct […]

Forbes: Greater Value in Opening a Reverse Mortgage Before It’s Needed

Opening a reverse mortgage earlier will allow for greater availability of credit in the future, compared with waiting to take out a reverse mortgage until further along in retirement. This is according to a new piece in Forbes by Dr. Wade Pfau, professor of retirement income at the American College of Financial Services and a […]

FAR Views HomeSafe Select Changes as ‘Net Positive’

Finance of America Reverse (FAR) has eliminated a feature of its HomeSafe Select proprietary reverse mortgage, RMD has learned, in addition to several product changes rolled out in December. The changes were made in response to feedback from borrowers, investors and partners, and are seen by the company as “net positive.” The changes, announced last […]

New York Times: Volatile Stock Market Hits Retirees Hardest

A turbulent stock market is already stressful for investors, but that stress can easily increase for older investors that are on the cusp of retirement. This is according to an article in the New York Times, written by personal finance reporter Tara Siegel Bernard with contributions by Dr. Wade Pfau of the Funding Longevity Task […]