When examining the totality of negative press that reverse mortgage products have to endure, many of the most persistent reputational hurdles faced by the products arise from people viewing the products themselves in isolation as opposed to a single part of a larger retirement strategy. This is according to Dr. Wade Pfau, professor of retirement […]
After several years operating under an affiliation with the American College of Financial Services, the Funding Longevity Task Force is in the process of finding a new home. The task force, first launched in 2012, has operated with the mission to bring rigor to the study of housing wealth in retirement income planning, and through […]
Americans place much of their focus on managing their existing debt over saving for the future, which results in their overall loss of focus on adequately saving enough money for retirement. This is according to Jamie Hopkins, director of retirement research at Carson Wealth in a piece at Forbes. “Most parents list paying down existing […]
The distance between reverse mortgage originators and financial advisors is often a long one, with many advisors generally having unfavorable perspectives on reverse mortgage products in terms of their viability as a specialized tool for their clients. While recent indications have demonstrated that this is starting to change, that kind of evolution is not yet […]
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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