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Breaking the Logjam on HECM Reverse Mortgages (Pt. I)

Jan 22, 2014   //   by   //   Mortgage News Daily  //  Comments Off on Breaking the Logjam on HECM Reverse Mortgages (Pt. I)

By Around the Web People reaching retirement age are living longer than ever, and retiring with less capacity to maintain their living standards. With good reason, this situation has been termed a “retirement funds crisis.” Yet most retiring seniors own homes in which they have significant equity, which could be unlocked by taking a HECM reverse mortgage. The need is great and the potential size of the HECM market is enormous, but few are written. The market should be about 10 times larger than it is. In part, this is due to the lack of a compelling motivation by seniors whose lives would be improved if they……(read more)

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