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Is the ‘New’ Reverse Mortgage a Better Deal for Consumers? | Latest News
Is the ‘New’ Reverse Mortgage a Better Deal for Consumers?
Recent changes to the reverse mortgage program have many lamenting the fact ... the new rules amount to a better deal for consumers in many cases. If the program changes make the loan more appealing from a consumer standpoint, the thinking goes, they ... read more
Using a reverse mortgage to pay off your first mortgage
"For consumers ... more information they know, the better they can understand how the product works and they can make an informed decision." SEARCH RATES: Ready to get a reverse mortgage? Shop for the best mortgage deal on Bankrate.com right now! read more
Consumer bureau report raises concerns about reverse mortgages
The consumer ... new reverse mortgages in 2011. "We just saw better growth opportunities in other places," said Terry Francisco, a spokesman for Bank of America, who said the company also wanted to shift its reverse mortgage staff to deal with homeowners ... read more
Seniors Are Turning To Risky Reverse Mortgages For Cash
A reverse ... Consumer Union's financial services program. But reverse mortgages are tricky. The loans rapidly deplete the home's equity. If the borrower doesn't maintain the property, or is remiss in paying homeowners insurance or property taxes, the deal ... read more
FHA seeks tighter reverse mortgage rules
But many seniors have used reverse mortgages as a lifeline to deal ... reverse mortgage borrower can identify $5,500 worth of savings a year" from these assistance programs, Alwin said. "That will free up their limited income and could put them on a better ... read more
Medicare, reverse mortgages and the complexities of retirement planning
One of the most persistent misunderstandings surrounding reverse mortgages is fear. As one adviser put it, how do we “deal with the fear that the reverse ... Some of these provisions upgraded consumer protections. One of the newer requirements is that ... read more
The Fed Is Making 2 Huge Mistakes
If there are reforms that the Fed structure needs, it might be wise to look at decentralizing its power to regional Presidents for certain matters, implementing better methods of ... to need to get tapped via reverse mortgages to support those Boomers ... read more
Should I take out a reverse mortgage?
We're thinking about taking out a reverse mortgage ... on the reverse mortgage section of AARP's site. Finally, a recent Consumers Union report contends that some unscrupulous reverse mortgage lenders push these loans on people who might be better off ... read more
Changes in reverse mortgages give advisers new tools in retirement planning
(Related read: 9 surprising ways to use a reverse mortgage) “Having a buffer asset can help manage sequence of returns better and make a retirement ... Equity Conversion Mortgage program has increased consumer protections, introduced underwriting to ... read more
Five years ago the Bank of England cut the base rate to its historic low of 0.5%: Did you get a dirt cheap mortgage or savings pain?
On top of the banking problems, what some had previously believed to be impregnable house prices in Britain had hit reverse, sending recent buyers to the trap of negative equity in a mortgage market that was shutting up shop. The consumer economy was also ... read more
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