The complaint stems from a Home Equity Conversion Mortgage (HECM) that Cleveland Mayo obtained in June 2011 after being diagnosed with kidney failure. According to the lawsuit, Mayo believed the loan would... Read more »
The survey, conducted by Greenwald Reserch, drew responses from 1,443 individuals ages 45 to 79 with more than $100,000 in investable assets. It found 39% growing more concerned about their financial future... Read more »
The top 10 HECM brokers for the 12-month period ending in January were led by Florida-based Atlantic Avenue Mortgage, which endorsed 935 HECM loans during the period. It also led all companies... Read more »
The proposal comes as the average property tax bill in New Jersey has exceeded $10,000 for the second consecutive year, local outlet NJ.com reported. If adopted in the final spending plan —... Read more »
Caregiver income, gender divide Not all adults with relatives who are aging in place are equally likely to be caregivers. Lower‑income adults — among those with a parent, spouse or partner age... Read more »
Sarah Wolak: A lot of the conversation in the past year has been about potential improvements in the HECM space. What specific changes would you like to see that would better serve... Read more »
NRMLA President Steve Irwin, who signed the letter, said that while the trade association “fully supports seniors receiving counseling before obtaining a reverse mortgage,” it opposes the bill as currently drafted for... Read more »
The survey, conducted in December by bipartisan pollsters Echelon Insights and GBAO Strategies, collected responses from nearly 2,600 voters ages 50 and up. It found that women ages 50 to 64 are... Read more »
Common myths Longbridge said there are persistent — and false — beliefs that senior homeowners do not retain the title to their home after signing a reverse mortgage agreement. “As with any... Read more »
Tommy Noyes has joined Mutual of Omaha Mortgage from Liberty Reverse Mortgage as a national wholesale account executive for Mutual’s reverse mortgage business, the company announced Tuesday. In the role, Noyes will... Read more »