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Hecm

Don't Expect Much From Unregulated Regulators

Jack M. Guttentag | Posted 11.11.2014 | Business
Jack M. Guttentag

The seeds of this article were planted in my brain some 30-odd years ago, when I did a consulting project for HUD, for which they contracted to pay me...

Shoud Seniors Buying a House Do It With a Reverse Mortgage?

Jack M. Guttentag | Posted 11.11.2014 | Business
Jack M. Guttentag

Many home purchasers are seniors. Some become homeowners for the first time, but most have been and want to remain homeowners. They just don't want to remain in their current house.

A New Challenge to the HECM Reverse Mortgage Program

Jack M. Guttentag | Posted 11.11.2014 | Business
Jack M. Guttentag

The United States today faces a retirement funds crisis: a rapidly growing number of persons who are retiring without the financial capacity to support themselves during ever-increasing life spans.

When to Reject a HECM Reverse Mortgage, and When to Consider One

Jack M. Guttentag | Posted 11.11.2014 | Money
Jack M. Guttentag

Some seniors don't qualify for a reverse mortgage, either because they are not old enough (you must be at least 62), or because the difference between...

Breaking the Logjam on HECM Reverse Mortgages (Part II)

Jack M. Guttentag | Posted 11.11.2014 | Business
Jack M. Guttentag

There is another log contributing to the HECM logjam that is more formidable. It is a poorly functioning market, with little price competition and no protection against "lock abuse" -- an inflated price after the senior is committed to the transaction.

The HECM Reverse Mortgage Program Gets a Makeover

Jack M. Guttentag | Posted 11.11.2014 | Business
Jack M. Guttentag

Last month, FHA announced a series of sweeping changes in the HECM reverse mortgage program, most of which have already taken effect. The changes are a response to increasing losses suffered by FHA in connection with the extensive misuse of the program.

Using a Reverse Mortgage to Avoid Impoverishment

Jack M. Guttentag | Posted 11.11.2014 | Business
Jack M. Guttentag

Nobody wants to spend their twilight years hoping they die before reaching the point of impoverishment.