While reverse mortgage products have always had reputational hurdles to overcome, one of the oft-repeated ways that product educators and industry professionals have cited in an attempt to appeal to financial planners is by using a reverse mortgage – Home Equity Conversion Mortgage (HECM) or otherwise – to avoid sequence of returns risk. That way, […]
COVID-19, the so-called coronavirus which has sparked concerns of a global epidemic after spreading into multiple countries, has introduced additional volatility to the U.S. stock market as investors raise concerns over the effects the spread of the virus might have on the American economy. For retirees, there are steps that can be taken to try […]
The U.S. stock market fell sharply on Wednesday in response to an “inverted yield curve.” Historically, economists have seen this as a telltale sign that an economic recession is likely to transpire. “On Wednesday, the U.S. stock market tumbled after a reliable predictor of looming recessions flashed for the first time since the 2008 financial […]
Although they can often be a tough sell, reverse mortgages can likely help financial clients who find themselves running out of money in retirement. This is according to an article appearing in Financial Advisor by writer Dan Jamieson. Home equity can be tapped for a number of reasons, including to pay off existing mortgages, mitigate […]
Some of the biggest risks inherent in a reverse mortgage transaction include the complexities of the Home Equity Conversion Mortgage (HECM) Program allowing for instances of misunderstanding, problems that can arise when someone is unable to pay, and inaccurate perceptions concerning what the loan repayment structure looks like. This is according to Dr. Wade Pfau, […]
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 […]
