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How the Government Can Improve the HECM Reverse Mortgage Program Without Changing It
The current version of the government insured Reverse Mortgage is much more restrictive than in the past with regards to how much equity is available to homeowners. The latest changes that were enacted last October were directed at saving the government money from loan losses on property sales. The real underlying problem has been longevity and how to forecast it while still offering a generous program to meet the needs of retirees and seniors. After all, these two groups need a flexible means of tapping into their piggy banks to supplement retirement and they aren’t li...
May 8th, 2018 | Non-recourse loan, Reverse Mortgage, Retirement Planning, HECM Reverse Mortgage, How the Government Can Improve the HECM Reverse Mortgage Program Without Changing It
Reverse Mortgages - Government vs. The People - PLFs
Since October 2013, it would appear that our government has been grappling with the people over principal limit factors (PLFs), otherwise referred to as home equity access levels for homeowners with Reverse Mortgages. The government actions are clearly based on merit but their attempts to resolve internal issues have been questionable. The primary efforts have been targeted at providing equity access to homeowners while feverishly trying to maintain the solvency of the program based on Social Security life expectancy forecasts. Here in lies the problem. The Federal government is effectively ba...
January 3rd, 2018 | HECM Reverse Mortgage, Principal Limit Factor, Non-recourse loan, FHA, Reverse Mortgage, Reverse Mortgages - Government vs. The People - PLFs
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