Reverse mortgage professionals may slowly be making inroads with financial planning contacts, but the industry agrees there’s still work to be done. Toward that end, there are several best practices originators can rely on to help forge relationships with financial planners, says one planner who is knowledgeable about the reverse mortgage product and is supportive […]
Using a reverse mortgage to refinance an existing mortgage will create more financial flexibility for fixed-income retirees, according to Dr. Wade Pfau, professor of retirement income at the American College of Financial Services and a member of the Funding Longevity Task Force, in a new piece at Forbes. “The general idea is that a reverse […]
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 […]
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 […]
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 […]
Prospective reverse mortgage borrowers looking to determine if the product is right for them can find a series of new pieces offering information on the upfront costs (origination fee, mortgage insurance premium and closing costs), ongoing costs related to the accrual of interest, spending options for a variable-rate Home Equity Conversion Mortgage (HECM) and details […]
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