The share of homeowners who maintain a traditional forward mortgage is at 62.9 percent, accounting for the lowest level of such homeowners since at least 2005. This is in spite of the fact that the household-owned value of the housing market in the United States is at a record high of $26.12 trillion, and that […]
While a continuous stream of surveys continue to corroborate that seniors overwhelmingly prefer to age in place, making a determination about exactly the right place for them to age is a more difficult and complex issue to try and answer. This is according to a recently and privately convened panel of experts on aging and […]
Because of the high costs to the Federal Housing Administration (FHA) associated with the Home Equity Conversion Mortgage (HECM) program within the Mutual Mortgage Insurance (MMI) fund, FHA should focus on reducing costs by addressing losses on assigned loans as opposed to narrowing the program’s eligibility requirements. This is according to blog post released by […]
As workers get older, their employment becomes increasingly difficult to maintain even in a generally prosperous economic climate. This is according to a study conducted by the Urban Institute, and recently highlighted by the Boston College Center for Retirement Research. Workers over the age of 50 have a higher likelihood of encountering an involuntary job […]
The Home Equity Conversion Mortgage (HECM) program has been experiencing difficulties in securing greater volume over the past year, particularly since changes were made to principal limit factors (PLFs) and insurance structure (MIP) in October of 2017. HECM program observers and proponents have sometimes argued that separation of the forward and reverse mortgage programs under […]
If converted to income, untapped home equity for seniors in the United States and 10 European countries could make for a significant supplement to retirement income, according to data released by the Urban Institute and highlighted in a blog post at the Boston College Center for Retirement Research (BCCRR). “The typical retired U.S. household has […]
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