Forbes: These 6 Changes are Coming to Social Security in 2020

Social Security benefit payments constitute the cornerstone of income for the majority of American retirees. For existing and potential reverse mortgage borrowers alike, keeping up-to-date on any changes in the Social Security program will prove to be essential information for anyone taking a proactive approach to retirement planning. Always a flashpoint of ongoing debate and […]

Feds Aim to Seize Hild Properties in Wake of Fraud Charges

In the wake of one “not guilty” plea entered for each of the five counts against former Live Well Financial CEO Michael C. Hild in a bond fraud case, federal authorities are now stating that they are within their rights to seize the majority of assets Hild owns in the Richmond, Va. area, according to […]

Former Live Well CEO Pleads ‘Not Guilty,’ Trial Set for Oct 2020

After being charged by the U.S. government in an alleged $140 million bond fraud scheme last week, former Live Well Financial CEO Michael C. Hild has pleaded “not guilty” to all charges against him and will be tried in the Southern District Court of New York next fall, based on court filings obtained by RMD. […]

CFPB Issues New Reverse Mortgage Natural Disaster Guidance

As parts of the Bahamas and Southeastern U.S. are bearing the brunt of Hurricane Dorian, the Consumer Financial Protection Bureau (CFPB) has released a new guide for borrowers of Home Equity Conversion Mortgages (HECMs) who have been affected by natural disasters. “Today we released a guide for older homeowners on how to meet their reverse […]

Report: Social Security is Steady, But Shortfalls Must Be Addressed

A government report issued in April on the financial solvency of the Social Security program painted a dire picture for the program’s future, saying that at current disbursement levels, the program would run completely out of funds by 2036. A new research brief says, however, that Social Security’s financial health has actually improved, but that […]

Report: Social Security to Run Out of Funds in 2036

The financial landscape for Social Security and Medicare federal entitlement programs, two of the most important programs in the social safety net for American seniors, has been given a bleak forecast concerning the financial solvency of the programs according to a government report issued earlier this week by the Social Security Administration (SSA) and Cabinet […]

President Trump Calls for U.S. Housing Reform Plan, Review of HECM Program

President Donald J. Trump signed an executive memorandum Wednesday initiating the process of reforming the United States housing system, which includes an objective to examine the “financial viability” of the Home Equity Conversion Mortgage (HECM) program. The president has expressed his intent to end the conservatorship of Freddie Mac and Fannie Mae that has been […]

Office of Inspector General to Expand Reverse Mortgage Oversight

The Trump Administration plans for its Office of Inspector General to increase oversight of the Home Equity Conversion Mortgage program in 2020, according to a proposed budget released Monday. The Administration’s HUD budget proposal for the 2020 fiscal year includes a statement on this expanded oversight that the OIG will have, in addition to addressing […]

HUD Secretary Ben Carson Plans Exit at End of Trump’s Term

Department of Housing and Urban Development Secretary Dr. Ben Carson has stated his intention to exit his post at the conclusion of President Donald J. Trump’s current presidential term. Carson made the announcement Monday night during an appearance on Newsmax TV, a conservative media outlet, according to the Washington Post. In the interview, Carson talked […]