How Grandchildren Can Impact a Reverse Mortgage

Inman News had an interesting article that mentioned some of the financial obstacles that are preventing seniors (subscription required) from acquiring reverse mortgages. According to Ralph Rosynek, President of 1st Reverse Financial Services, it’s delinquent student loans. Rosynek said, “the elderly often co-sign for student loans on behalf of their grandchildren”. Not only student loans […]

HUD Approves LIBOR Index for HECMs

Last Friday U.S. Department of Housing and Urban Development approved the use of LIBOR Indexes for all FHA Arms and HECM products. HUD felt the change was necessary because LIBOR is both an international index determined on the basis of the world economy and an index that has become very popular in the secondary market. […]