With the impact of the COVID-19 coronavirus pandemic still a persistent presence in the everyday lives of Americans, more adult children and retired parents are spending time together, which makes for an optimal moment for retirees to talk about their finances with their children. A reverse mortgage can be one such solution for retirees to […]
Retirees should strongly consider employing a reverse mortgage loan to help fund their retirements, primarily because they can serve to protect against two major problems: falling home prices, and the increasing likelihood that a senior will outlive his or her assets. This is according to Professor Benjamin Harris, executive director of the Kellogg Public-Private Interface […]
A possible path toward making reverse mortgages more enticing to both lenders and borrowers could be by enhancing traditional Home Equity Conversion Mortgage (HECM) to increase loan amounts at origination in order to allow the borrower to purchase a life annuity. That annuity can then be used to pay down principal and interest on the […]
Since reverse mortgages are a relatively niche product with low utilization among American seniors, there are possible strategies that can be employed to increase its prevalence among those looking for funding solutions in retirement. This is according to a new research paper released last week during an event by the Brookings Institution, authored by Ohio […]
Reverse mortgage products, while unlikely to become “a pillar” of American retirement, are economically justified “to play an expanded role in helping older Americans achieve a secure livelihood.” This is according to a new research paper released by the Brookings Institution, authored by researchers Martin Baily, Benjamin Harris and Ting Wang. The paper, released last […]
American research think tank the Brookings Institution hosted an event in Washington, D.C. Monday morning that included a wide-ranging panel discussion of reverse mortgages in America and across the world. The event also included the presentation of two research papers, diagnosing issues and prescribing potential solutions for headwinds faced by reverse mortgage products in the […]
