Podcasts about hecm

[National Association of Realtors] Surprise! Here's what generation is buying the most homes. [News Week] The Texas housing market could be poised for a BIG housing price correction. Here's why… [Reverse Market Insight] RMI's Market Minute with Jon McCue: The latest HECM trends and data. Watch our video podcast here!

Did you know there's a way to tap into your home's equity for tax-free cash—without having to make monthly payments? It's true.It's called a Home Equity Conversion Mortgage, or HECM—what many of you know as a reverse mortgage. But today's reverse mortgage isn't what it used to be. Harlan Accola is here to help us unpack how they work and whether one might be right for you.Harlan Accola is the National Reverse Mortgage Director at Movement Mortgage, an underwriter of Faith and Finance. He is also the author of Home Equity and Reverse Mortgages: The Cinderella of the Baby Boomer Retirement. What's Changed? A Safer, Regulated OptionWhen you hear the phrase reverse mortgage, you might think of outdated financial tools with a bad reputation. However, home equity conversion mortgages (HECMs) significantly differ from those in the past.Reverse mortgages today are not the “Wild West” products of decades past. Since major reforms were enacted during President Reagan's term in 1988, HECMs are now heavily regulated under the Federal Housing Administration (FHA).No one can lose their house or have it taken away, provided they're working with a reputable lender and stay in the home while meeting basic obligations. Ownership doesn't change, and homeowners are protected.These changes addressed the risks that once made reverse mortgages controversial. Now, with strict oversight, they provide a reliable option for seniors wanting to tap into their home equity without selling.Are Reverse Mortgage Interest Rates Too High?It's a common misconception that reverse mortgage interest rates are significantly higher than traditional mortgages. But that comparison isn't apples to apples. Interest rates on HECMs are actually tied to the 10-year Treasury rate and are heavily regulated.Right now, interest rates for reverse mortgages are about the same as traditional mortgages—around 6.5%. This means homeowners aren't sacrificing much, if anything, in interest when compared to forward mortgages.What About Costs and Obligations?The closing costs for reverse mortgages are nearly identical to traditional mortgages, with one key difference: the addition of FHA mortgage insurance.This insurance offers three essential guarantees:You can remain in your home as long as you want (up to age 150!).Thanks to non-recourse debt protections, you will never owe more than the home's value.Your heirs won't be left with a bill.Yes, this insurance adds about 2% of the home's value to the upfront costs, but it's well worth it—just like homeowner's insurance is worth it if your house burns down.What Happens When the Borrower Passes Away?A major concern many have is what happens to the home after the homeowner dies or permanently moves out.The key is proper planning. Without a will or trust in place, any mortgage—reverse or traditional—can create problems for heirs. In most cases, the home is simply sold, and any remaining equity belongs to the heirs. For instance, if the reverse mortgage balance were $100,000 on a $400,000 home, the heirs would receive the remaining $300,000.Sometimes, grandchildren may want to keep the home, in which case they can buy out other heirs. Either way, the process can be managed with clear planning.Flexible Payout OptionsOne of the most attractive features of a HECM is its flexibility. Homeowners can choose to receive their funds in a variety of ways:A lump sumA line of creditMonthly income paymentsOr even a combination of these optionsThe big idea? Your home is not just a place to live—it's also a financial asset that can be used strategically, especially in retirement.Every financial situation is different. However, a reverse mortgage could be a wise part of a broader financial plan for older homeowners. When used correctly, it offers flexibility, security, and peace of mind without jeopardizing their home.Visit Movement.com/Faith to learn more about reverse mortgages or speak directly with Harlan Accola at Movement Mortgage.On Today's Program, Rob Answers Listener Questions:My husband has taken a new job, and we have been contributing to an HSA. He wants to contribute $1,000 a month to the HSA. We still own a home and are nearing retirement age. Should we work on paying off the home or continue to put dollars into the HSA?A week or two ago, I caught part of your program about freezing credit scores. I didn't catch the whole explanation. We've never really taken out loans except for our first house 45 years ago. Is there any downside to freezing my credit?I recently received a large amount of money from a dear loved one who passed away in January. I know I'm going to tithe and pay taxes on the amount. I have an appointment with my bank to set up a CD account, but I want to know what other types of investments I can make with the money. I just want to make sure I'm doing the right thing.Resources Mentioned:Faithful Steward: FaithFi's New Quarterly MagazineMovement MortgageBankrate.comChristian Community Credit Union (CCCU)Wisdom Over Wealth: 12 Lessons from Ecclesiastes on Money (Pre-Order)Look At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

[Housing Wire / HUD] HUD OIG report found HECM residency fraud and few controls.  [Housing Wire] Have advisors lost interest in the HECM? [Wall Street Journal] Why retirees who relocate to states with no income tax don't always save money. Watch our video podcast here!

There's a saying, “The best time to plant a tree is right now.” Does that logic apply to inheritances?Well, it might in some cases. In other words, is there a benefit to giving your kids an early inheritance? And how exactly would you do that? Harlan Accola joins us today to talk about how a reverse mortgage can accomplish that.Harlan Accola is the National Reverse Mortgage Director at Movement Mortgage, an underwriter of Faith and Finance. He is also the author of Home Equity and Reverse Mortgages: The Cinderella of the Baby Boomer Retirement. Understanding a Home Equity Conversion Mortgage (HECM)Reverse mortgages have evolved significantly over the years, offering new opportunities for financial planning in retirement. A Home Equity Conversion Mortgage (HECM), often referred to simply as a reverse mortgage, is an FHA-insured loan that allows homeowners to convert part of their home equity into cash while still maintaining ownership.Unlike some traditional reverse mortgages of the past, a HECM is non-recourse, meaning borrowers will never owe more than the home's value, and the loan cannot be called due as long as they continue to pay property taxes and insurance and live in the home. The equity remains with the homeowner and their heirs, with the only change being the portion that is used. Another advantage? The proceeds are tax-free, making it a useful tool for financial planning.The Role of Reverse Mortgages in Retirement PlanningWhile many people focus on eliminating debt entirely in retirement, a reverse mortgage can serve as a strategic financial asset rather than simply a last resort. Many retirees overlook the potential of their home equity as part of their financial portfolio. Instead of just passing a home down to heirs, a reverse mortgage allows parents to leverage their equity while living, providing financial assistance to their children and grandchildren when they need it most.Giving an Early Inheritance: Why It Makes SenseOne of the most meaningful ways to use a reverse mortgage is to give an early inheritance—sharing wealth with children or grandchildren while still being alive to witness its impact. As Ron Blue famously said, “Do your giving while you're living so you're knowing where it's going.”Biblical wisdom teaches that wealth should be passed along with wisdom, guiding the next generation not only in how to manage money but also in understanding generosity and stewardship. Many parents already do this when their children are young—teaching them to give, save, and spend wisely. But what about when they are adults? A reverse mortgage provides an opportunity to continue that guidance by offering financial assistance at a time when it may be most needed.How an Early Inheritance Can HelpHere are some practical ways a reverse mortgage can be used to bless children and grandchildren:1. Helping with a Down Payment on a HomeWith rising housing prices and interest rates, many younger adults struggle to afford a home. Parents can use their home equity to provide a down payment for their children, reducing the amount they need to borrow and making homeownership more affordable.2. Funding Private Christian EducationMany families prioritize faith-based education, but tuition costs can be a burden. A reverse mortgage can help cover private school tuition for grandchildren, ensuring they receive a strong biblical foundation in their education.3. Supporting Family Mission Trips or VacationsShared experiences can create lasting memories and strengthen family bonds. Whether it's funding a mission trip or a multi-generational vacation, using home equity can allow families to invest in relationships and spiritual growth together.Are There Risks to Using a Reverse Mortgage for an Early Inheritance?Like any financial tool, a reverse mortgage should be part of a well-thought-out plan. Here are a few key considerations:Ensure Long-Term Financial Stability—Before giving away wealth, make sure your own financial needs are met, including healthcare and living expenses. Plan for Healthcare Costs—Unexpected medical expenses can arise, so long-term care planning is essential before using home equity for other purposes. Use Funds Wisely—An early inheritance should be given with intentionality, not just as a financial gift, but as an opportunity to teach stewardship and align with biblical principles.Making the Right DecisionIf you're considering a reverse mortgage as part of your financial plan, here are a few steps to ensure you're making a wise choice:Work with a Trusted Christian Advisor—Seek guidance from a financial professional who understands both biblical principles and financial wisdom. That's why we recommend working with a Certified Kingdom Advisor (CKA), which you can find at FaithFi.com. Just click "Find a Professional." Pray About It—Ask God for wisdom to determine how this decision fits into His plans for your life and your family's future. Evaluate Your Goals—Consider how a reverse mortgage aligns with your long-term financial and spiritual priorities.By planning wisely and giving generously, you can leave a legacy of faith and financial stewardship that impacts generations to come.For those interested in exploring whether a reverse mortgage is a good option for their retirement plan, the team at Movement Mortgage can provide guidance. Learn more at movement.com/faith.On Today's Program, Rob Answers Listener Questions:Is it ideal for a husband and wife to share the same checking account, and how do we manage such to avoid conflict?I have a debt of about $4,300. I've been considering if I should get a balance transfer on a new card or take out a loan from my 401(k).My sister is 76 with disabilities, and I have her power of attorney. Medical facilities have had data breaches, so I was trying to freeze her credit. She's never had credit - do I need to freeze it, or can I leave it?Resources Mentioned:Faithful Steward: FaithFi's New Quarterly MagazineMovement MortgageChristian Credit CounselorsMoney and Marriage God's Way by Howard DaytonAnnualCreditReport.comWisdom Over Wealth: 12 Lessons from Ecclesiastes on Money (Pre-Order)Look At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

[HECMWorld Exclusive] How to supercharge the H4P. [Go Banking Rates] 4 reasons baby boomers are house-poor in retirement. [Oregon Live] Mom has a reverse mortgage but needs to move for long-term care.  Watch our video podcast here!

[Housing Wire] HECM National Servicing Center Faces DOGE Closure. [Bloomberg | Housing Wire] The CFPB Ain't Dead Yet. [HECMWorld Exclusive] How one HECM pro has leveraged the power of storytelling to reach older homeowners.  Watch our video podcast here!

[Housing Wire] A HECM for Purchase Success Story [NRMLA Online] Political change is coming but housing policy is bipartisan. [RMI] RMI's Market Minute with Jon McCue. Watch our video podcast here!

[FHA] The October Surprise. What FHA's latest HECM application data tell us. [Housing Wire] Gabe Bodner takes the reigns of One Trust Home Loan's 55+ Lending [24/7 WallSt] Ramsey Solutions is NOT spot-on about reverse mortgages. Here's why. Watch our video podcast here!

[Housing Wire] FHA announces 2025 HECM Limit [Investopedia] Are falling Treasury yields a sign of the Trump effect? [Housing Wire] Industry veteran Jesse Allen moves to Rate with an eye on growth. Watch our video podcast here!

[GoBankingRates / Yahoo Finance]'Expert' advice about reverse mortgages? Not so much. [Housing Wire] Back in Black. The HECM's Performance in the FHA Portfolio. [Newsweek / The Washington Post] How a Trump presidency may impact home values. Watch our video podcast here!

[HECMWorld] The HECM's 10-Year CMT Rate Climbs After Fed Funds Rate Cut. [Reverse Market Insight] RMI's Jon McCue returns for this month's installment of RMI's Market Minute. Watch our video podcast here!

Many rules come with exceptions. Perhaps that's nowhere more true than with financial decisions.In most situations, paying off the mortgage and becoming debt-free is the right decision, but it may not be possible for everyone. Harlan Accola joins us today to discuss “red doors” and exceptions to the rule.Harlan Accola is the National Reverse Mortgage Director at Movement Mortgage, an underwriter of Faith & Finance. He is also the author of Home Equity and Reverse Mortgages: The Cinderella of the Baby Boomer Retirement.The Meaning Behind Red DoorsRed doors have rich historical significance. In biblical times, red signified safety and protection, as seen with the Israelites marking their doors during the Passover. In Scottish tradition, a red door symbolized that a home was mortgage-free—a point of pride. Early Americans painted their doors red to signal a place of rest for weary travelers.While red doors symbolize safety and accomplishment, it's important to rethink what safety truly means. Is safety just about paying off your mortgage? Or could it also mean being able to stay in your home, meet your needs, and share your blessings with others as you age?Reverse Mortgages and Financial StewardshipFor many seniors, having a mortgage-free home is a milestone of God's provision. However, a reverse mortgage (HECM) can provide additional safety, especially for those struggling to make ends meet. It allows seniors to draw income from their home equity and stay in their homes while meeting their financial needs.Seniors over 62 have over $13 trillion in home equity—a massive untapped resource. For some, a reverse mortgage could be an answer to prayer, helping cover bills and providing peace of mind. Reverse mortgages offer a unique opportunity to be good stewards of the resources God has provided, ensuring we can enjoy our homes and meet our needs in retirement.To determine if a reverse mortgage is the right solution for your situation, visit Movement.com/Faith.On Today's Program, Rob Answers Listener Questions:I am 61 years old and want to file for Social Security at 62. However, I have so much credit card and loan debt that I'm considering filing for bankruptcy, and I would like to know your take. I looked up your credit counseling thing, but they can't service one of my loans, so I didn't go any further with them.We sold a property in owner finance the property. When do we report the taxes on it? And is it a long-term capital gain? I had it for 15 years and lived in it some, but it wasn't our primary residence.I wanted to know about I-Bonds and the interest rate they're paying currently. The last I heard, you can only buy them through a website. I'm 83 and don't know much about computers. Is there a number I can call?I'm struggling to tithe because my husband and I disagree with how the church spends the money. We feel like we're the only ones who disagree, and it's difficult writing out that tithe check when we don't agree with the financial decisions. We're wondering if we're wrong or if the church is wrong. We don't want to withhold our tithe but feel the money could be spent much better.Resources Mentioned:Movement MortgageTreasuryDirect.govChristian Credit CounselorsLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

[Housing Wire] FHA Commissioner: The HECM a Critical Piece of the Retirement Puzzle. [Yahoo Finance] Survey Reveals Retirees are Happier Than Older Workers. [KJZZ Radio] Aging in Place Out of Reach for Most. Watch our video podcast here!

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2880: Steve Chen explores how reverse mortgages can serve as a financial "spare tire" for retirees facing unexpected challenges. By tapping into home equity, retirees can maintain their lifestyle during downturns or emergencies, though it's crucial to understand the complexities and potential risks before making this significant decision. Read along with the original article(s) here: https://www.newretirement.com/retirement/reverse-mortgage-as-back-up-plan/ Quotes to ponder: "A reverse mortgage allows homeowners aged 62 and older to convert a portion of their home equity into funds that they may use at their own discretion." "For many retirees, their home is a valuable source of net worth." "The HECM line of credit has a growth feature, which means that the unused loan balance grows over time." Episode references: National Reverse Mortgage Lenders Association: https://www.nrmlaonline.org/ The Reality of the Retirement Crisis: https://www.americanprogress.org/article/the-reality-of-the-retirement-crisis/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2880: Steve Chen explores how reverse mortgages can serve as a financial "spare tire" for retirees facing unexpected challenges. By tapping into home equity, retirees can maintain their lifestyle during downturns or emergencies, though it's crucial to understand the complexities and potential risks before making this significant decision. Read along with the original article(s) here: https://www.newretirement.com/retirement/reverse-mortgage-as-back-up-plan/ Quotes to ponder: "A reverse mortgage allows homeowners aged 62 and older to convert a portion of their home equity into funds that they may use at their own discretion." "For many retirees, their home is a valuable source of net worth." "The HECM line of credit has a growth feature, which means that the unused loan balance grows over time." Episode references: National Reverse Mortgage Lenders Association: https://www.nrmlaonline.org/ The Reality of the Retirement Crisis: https://www.americanprogress.org/article/the-reality-of-the-retirement-crisis/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2880: Steve Chen explores how reverse mortgages can serve as a financial "spare tire" for retirees facing unexpected challenges. By tapping into home equity, retirees can maintain their lifestyle during downturns or emergencies, though it's crucial to understand the complexities and potential risks before making this significant decision. Read along with the original article(s) here: https://www.newretirement.com/retirement/reverse-mortgage-as-back-up-plan/ Quotes to ponder: "A reverse mortgage allows homeowners aged 62 and older to convert a portion of their home equity into funds that they may use at their own discretion." "For many retirees, their home is a valuable source of net worth." "The HECM line of credit has a growth feature, which means that the unused loan balance grows over time." Episode references: National Reverse Mortgage Lenders Association: https://www.nrmlaonline.org/ The Reality of the Retirement Crisis: https://www.americanprogress.org/article/the-reality-of-the-retirement-crisis/ Learn more about your ad choices. Visit megaphone.fm/adchoices

[CNBC] Here's where home values are rising and falling nationwide. [CNBC] The Federal Reserve slashed the Fed Funds Rate by 50 basis points. How will this impact the HECM's 10-Year CMT index?  [Reverse Market Insight] Our monthly installment of RMI's Market Minute with Jon McCue for all the latest HECM origination and endorsement trends. Watch our video podcast here!

[Housing Wire / RMD] How would an interest rate cut impact HECM lending? [Kiplinger's] How one divorce specialist turned to reverse mortgages as a potential gray divorce solution. [HECMWorld] Where have all the HELOCs gone?! Watch our video podcast here!

[Housing Wire] NRMLA and the MBA provide feedback to Ginnie Mae on the new HMBS 2.0 program. [Housing Wire] HighTech Lending rebrands its wholesale division. [Reverse Mortgage News Roundup] A quick recap of recent HECM news. Watch our video podcast here!

[Sternberg Law Group] Can You Get a Reverse Mortgage if You're in Foreclosure? [Yahoo Finance] I Willed My House to the Grandkids but Just Got a $100K Mortgage. Did I make the right choice? [Reverse Mortgage News Roundup] A quick recap of recent HECM news. Watch our video podcast here!

[National Mortgage News] The CFPB issues a consent order against a former national HECM servicer. [Reverse Market Insight] RMI's Market Minute with Jon McCue brings you the latest trends in HECM loan volume, regional trends, and more. [National Consumer Law Center] Industry Advocates Highlight Measures to Counter Elder Real Estate Fraud. Watch our video podcast here!

On today's episode, Editor in Chief Sarah Wheeler talks with Editor Chris Clow about the CFPB's focus on the reverse space, including their recent action against a reverse servicer. Related to this episode: Reverse mortgage consumer complaints decline on a yearly basis: CFPB | HousingWire CFPB takes enforcement action against former HECM servicing contractor | HousingWire HousingWire | YouTube Enjoy the episode! The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team. Learn more about your ad choices. Visit megaphone.fm/adchoices

[HECMWorld] A Revolution in HECM Calculators: An Interview with Lenderful Solution's Paul Lehnert. [National Mortgage News] Finance of America Reverse trims more jobs to right-size its lending operations. [CNBC] Why tapping into home equity is tricky. Watch our video podcast here!

[Housing Wire] Flood insurance premium hikes endanger one reverse mortgage couple and others. [Housing Wire] Ginnie Mae's new HECM mortgage-backed security product is on schedule for release this year with details coming this month. [CNN Finance] Zero-down mortgages are back! Here's what you need to know. Watch our video podcast here!

On today's episode, Editor in Chief Sarah Wheeler talks with Editor Chris Clow about the FHA's new cybersecurity reporting requirements and trends in reverse mortgages. Related to this episode: HECM study examines borrower trends over two decades Chris Clow | LinkedIn Sarah Wheeler | LinkedIn HousingWire | YouTube Enjoy the episode! The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team. Learn more about your ad choices. Visit megaphone.fm/adchoices

[RMD-Housing Wire] Appraisal bias protections apply to HECM applicants. [Belleville News-Democrat] Congressional bill seeks to change the index used to calculate Social Security's Cost of Living Adjustment (COLA). [Yahoo Finance] Mortgage demand falls with high interest rates and home values. Watch our video podcast here!

[RMD-Housing Wire] HUD pulls back some planned HECM for Purchase contributions. [Belleville News-Democrat] A vacant duplex has been deteriorating for five years after the HECM borrower died. [Finance Buzz] Home insurance forcing many older Florida residents to sell, or give up coverage. Watch our video podcast here!

What is private credit and where does it fit in your investment portfolio? At age 60, Hope is tired of working and she's hoping to retire in 2-3 years. Should she factor home equity into her retirement spending plan with a reverse mortgage? Which mortgage option for a Houston dream home is best for Nisa in San Jose's early retirement goals? That's today on Your Money, Your Wealth® podcast number 476 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Wayne in Phoenix needs to know how the section 121 tax exclusion works on a vacation home, and Jack and Jill in the UAE have questions about tax gain harvesting and the foreign earned income exclusion. Finally, are Joe and Big Al off their strategy game? A Spotify listener takes the fellas to task about the Affordable Care Act subsidy discussed in episode 472, and challenges their spitball for Duke and Daisy's retirement spending plan in episode 475. Access this week's free financial resources and the episode transcript in the podcast show notes, and Ask Joe & Big Al On Air for your Retirement Spitball Analysis, at https://bit.ly/ymyw-476 Timestamps:     •    00:00 - Intro     •    01:03 - What Is Private Credit? (Janine, La Jolla, CA)     •    08:07 - Is a Reverse Mortgage Right for Me? (Hope)     •    14:21 - Using Reverse Mortgages To Secure Retirement with Dr. Wade Pfau - YMYW Podcast 117     •    How Your Home Can Create Retirement Income - YMYW TV     •    14:59 - Which Mortgage Option is Best for Me in Early Retirement? (Nisa, San Jose, CA)     •    24:04 - Section 121 Tax Exclusion on a Vacation Home? (Wayne, Phoenix, AZ)     •    26:48 - What You Need to Know Before Filing Your Taxes in 2024 webinar     •    2024 Tax Planning Guide     •    27:39 - Foreign Earned Income Exclusion: Can I Harvest Long-Term Capital Gains? (Jack & Jill, UAE)     •    37:06 - ACA Subsidy & Retirement Spitball: Are Joe and Big Al Off Their Strategy Game? (Spotify commenter)     •    45:02 - The Derails

[HUD/FHA] HECM applications: Major changes underway [California Mortgage Relief] Time is running out for California homeowners to apply for financial assistance  for property charges [HUD] How vacant HECM properties are sold Watch our video podcast here!

WATCH ON YOUTUBE https://youtu.be/IKgHO21RcAQ This episode of About the House is brought to you by the Construction Consumer Advocacy Institute https://constructionconsumeradvocacyinstitute.com/     ⁠     In this episode of About the House with Troy Galloway, Troy talks to Richard Brown about Reverse Mortgages a.k.a. HECMs. Find out how you can use your home's value to pay for medical expenses and in-home healthcare. Contact Rick Brown, Reverse Mortgage Loan Officer NMLS #247348 C : (314) 249-3418 F : (314) 334-2919 rbrown@university-bank.com https://www.university-bank.com/reverse/about-reverse/rick-brown/  DISCLOSURE: University Bank – Reverse Mortgage Division, Equal Housing Opportunity - NMLS 715685, 2015 Washtenaw Ave, Ann Arbor, MI  48104 – (www.nmlsconsumeraccess.org), Member FDIC that operates in various states.  For a complete list of the states University Bank can operate in please visit  https://www.university-bank.com/licensing. This is not a commitment to lend or an offer for a rate lock agreement. All Mortgage transactions are subject to verification of application information, satisfying all underwriting conditions and requirements. Restrictions apply. 3:00 How long has Rick been doing Reverse Mortgages A.K.A. HECMs? 4:47 How does Rick explain Reverse Mortgages to new clients? 6:35 Rick has to read a disclosure. The numbers presented today are examples and do not reflect what your numbers will be. 34:26 Rick begins his slideshow presentation 34:30 Introduction to Reverse Mortgages A.K.A. Home Equity Conversion Mortgage (H.E.C.M.) 34:39 What is the definition of a Reverse Mortgage or H.E.C.M.? 36:20 What are some issues to think about when considering a Reverse Mortgage? 39:30 Adjustable and fixed-rate Reverse Mortgages 39:43 A brief overview of Reverse Mortgages 42:23 The mechanics of a Reverse Mortgage 45:13 An example of a HECM with a $300,000 home 50:05 What happens if the home value does not appreciate after a Reverse Mortgage is put in place? 50:59 A chart showing the home appreciation rate being less than expected 53:03 What if there is an average 3% increase in interest rate? 55:03 How/why might a senior borrower use line of credit funds in the future 55:18 Potential future uses of growing line of credit 58:15 Delaying commencement of social security 58:56 One spouse dies 1:00:14 Directing all proceeds to a guaranteed monthly payment 1:03:57 What are ill-suited quarters? 1:05:51 HECM for purchase 1:06:43 Rightsizing to a new home 1:07:14 Impact on retirement success likelihood 1:08:55 Sampling of potential HECM users 1:09:23 Why not wait to get a HECM until I know I need it 1:10:36 Reasons to get a Reverse Mortgage today rather than later 1:11:58 Reverse Mortage VS a home equity line of credit 1:12:30 FHA HECM guarantees 1:13:00 How does the FHA prevent insolvency? 1:13:43 Qualifying requirements for a HECM 1:14:19 What seniors are good candidates for a Reverse Mortgage? 1:14:45 What do financial planning gurus think of HECMs? 1:15:00 HECMs and the financial planning profession 1:16:03 What is the FHA's 60% year 1 proceeds limitation rule? 1:17:26 How do adjustable rate mortgages work? 1:18:12 What is the story with non-borrowing spouses? 1:19:26 How do Reverse Mortgages work in a Grey Divorce Settlement? 1:19:41 Adjustable and fixed-rate HECMs 1:20:20 Expanded HECM overview 1:20:26 More questions? Contact Rick at rbrown@university-bank.com

[Housing Wire] U.S. Senator calls for more oversight of HECM mortgage-backed securities program. [RMI] Reverse Market Insight's Market Minute with Jon McCue.. [Journal Courier] Is downsizing worth it in retirement? Watch our video podcast here!

[Housing Wire] Parent Company of former HECM lender converts to Chapter 7 [San Jose Mercury News] Elderly woman murdered in a plot that involved a reverse mortgage [Housing Wire] HUD's proposed budget reveals requested HECM reverse mortgage changes in Congressional request. Watch our video podcast here!

Do you not tell anyone that you have one? Are there others in similar situationsSpouse and has passed on, only fixed income such as social security. Are food costs going up along with Medical? It is time to get a HECM - a line of credit to help you in your later years of life, Have your children be involved and everyone learn how a Reverse Mortgage works. People have 401k's. there is equity in your home. what happens if you lose that opportunity and home prices go down? You don't have to rely on family members to help you when you have all the resources in your home. tune in and learn more at https://www.ddamortgage.com/blogDidier Malagies nmls212566DDA Mortgage nmls324329 Support the show

[FHA] HECM application activity drops [Bank Rate] Is the housing market going to crash in 2024? [Motely Fool] No soft economic landing says Citi economist Watch our video podcast here!

Follow along and subscribe/rate/review at https://www.briancovey.com/podcast/Don't listen to the negative stigma that you've been hearing about the housing market and the mortgage industry in the media: IT'S JUST NOT TRUE! There are a lot of things that have changed over the last several years and a lot of rules that have changed in your favor.When it comes to HECM reverse mortgages, there are so many ways that it can benefit you! The biggest issue has been that most people don't have someone giving them the right information to make the best decisions for their futureOn the latest episode of Finding Your Competitive Edge, mortgage industry veterans Peter Morris and Nicole Webster discuss and share strategies to help you, your friends, and your family actually tap into equity in your home and use that to not only cover living expenses, but also invest in your future.

Follow along and subscribe/rate/review at https://www.briancovey.com/podcast/Do you know what a HECM reverse mortgage is, and do you know how it can benefit you?The reverse mortgage program really requires someone that understands it, can articulate it, and help their customers make wise decisions through that.On this episode of Finding Your Competitive Edge, mortgage industry veterans Peter Morris and Nicole Webster discuss and share strategies to help you, your friends, and your family actually tap into equity in your home and use that to not only cover living expenses, but also invest in your future.

[Reverse Market Insight] HECM volumes and first-time borrowers [Housing Wire] Court approves former Live Well employee class action settlement [Housing Wire] Aging in place could transform Chicago's housing market Watch our video podcast here!

Managing Associate K.C. Smith, CFP®, CEPA, and Associate Adam Stadalius, CFP®, and Chief Investment Officer Troy Harmon, CFA, CVA, provide insight for a widow whose late husband took out a reverse mortgage on their home nearly 15 years ago. They discuss what a reverse mortgage is and what it means for her assets and estate going forward. Read the Article: https://www.henssler.com/reverse-mortgages-making-informed-decisions-on-home-equity 

George Tsoupakis is a Certified Reverse Mortgage Professional with the Reverse Division of New American Funding for the last five years, one of only two hundred Loan Consultants in the country that hold the CRMP designation. He is personally licensed in Arizona, Colorado, Florida, Kentucky, Nebraska, New Mexico and Wyoming, and other members of the highly experienced reverse team are licensed in all remaining states except Hawaii. He is a dedicated Reverse product specialist with all HECM and Proprietary programs both for refinances and purchases. He has a passion for educating consumers, Real Estate Agents, and Financial Advisors about the benefits of a Reverse Mortgage, the only home loan product designed to help senior homeowners age in place, buy their dream home and enhance their retirement. He has a 30-year experience at various positions in sales and finance. Contact him here: George.Tsoupakis@nafinc.com or 303.570.7448

[All Maa] Here's how reverse mortgages work in India [CNBC] Why U.S. treasuries and the 10-year CMT are surging [Housing Wire] Ginnie Mae proposes a new HECM security to ease liquidity challenges Watch our video podcast here!

Henssler Money Talks – January 20, 2024Season 38, Episode 3This week on “Money Talks,” Chief Investment Officer Troy Harmon, CFA, CVA, is joined by Managing Associate K.C. Smith, CFP®, CEPA, and Associate Adam Stadalius, CFP® to cover the week's market action, the Producer Price Index, Retail Sales, and Industrial Production. Planners K.C. and Adam provide some insight for a widow whose late husband took out a reverse mortgage on their home nearly 15 years ago. They discuss what a reverse mortgage is and what it means for her assets and estate going forward. The experts also advise an investor on what assets in his portfolio he should sell to fulfill his required minimum distribution. Timestamps and Chapters00:00 Market Roundup: Jan. 15 – Jan. 19, 202424:00 Case Study: Understanding a Reverse Mortgage34:48 Q&A Time: What to sell when taking an RMDFollow Henssler:  Facebook: http://bit.ly/HensslerFacebook  Twitter: http://bit.ly/HensslerTwitter  LinkedIn: http://bit.ly/HensslerLinkedIn  Instagram: https://www.instagram.com/hensslerfinancial/YouTube: http://bit.ly/HensslerYouTube   “Money Talks” is brought to you by Henssler Financial. Sign up for the Money Talks Newsletter: https://www.henssler.com/newsletters/ 

[Money.com] Redfin & Zillow: Where mortgage rates and home prices are headingI [Ginnie Mae] Ginnie Mae reveals HECM mortgage-backed securities particulars [RMD] AARP joins class action lawsuit against RMF and Celink Watch our video podcast here!

[National Mortgage News] How one reverse mortgage servicer is utilizing AI [NRMLA] HUD updates HECM loan servicing policies [RMD] Why one analyst predicts baby boomers will move to sell their homes Watch our video podcast here!

WOW!  Four Hundred Episodes! Who knew way back in 2015 that eight years later, we would be 400 episodes in! So what is the sleeping giant of the senior real estate world?  What is a HECM and can it be used to purchase a home? How can a HECM actually INCREASE the commission paid to an agent? How can a senior use the equity in their previous home to upsize or downsize into a new home? On this week's episode, we have a repeat guest - Michael Banner of www.LetsMoveForwardInReverse.com.  Michael became a licensed mortgage professional in 1982. Approximately 15 years ago his passion took a new direction, as his career became focused on assisting the senior segment of our industry as they approached, or were already in, the retirement portion of their lives. The gift of the "longer life spans" can sometimes be a "double edged sword" and Michael devoted his career to helping seniors with reverse mortgages. Michael is a nationally known speaker and published author, and has performed education classes for more than 20,000 financial planners, independent financial advisors, long term care insurance agents, attorneys and Realtors on the topic of The Use of Home Equity During Retirement. Over the last decade, he has appeared on hundreds of national, local and regional television, and radio broadcasts and his articles on the topic of Reverse Mortgages have appeared in the a variety of industry leading publications and blogs. You can also listen to Episode 120 to hear Michael's first interview on the Reverse Mortgage Industry, or our previous episode with him - #384, The Secret to Moving Forward in Reverse!   https://yesnerlawpodcast.libsyn.com/episode-120-safely-using-a-reverse-mortgage-with-michael-banner Let us know if you enjoy this episode and, if so, please share it with your friends! Please also visit our sponsor, Sam Cohen of Attorneys First Insurance for Attorneys and Title Companies looking to get a quote on Errors & Ommissions (malpractice) Insurance coverage. www.AttorneysFirst.com.  Or, you can support the show by visiting our new Patreon page: https://www.patreon.com/crushingDebt  To contact George Curbelo, you can email him at GCFinancialCoach21@gmail.com or follow his Tiktok channel - https://www.tiktok.com/@curbelofinancialcoach  To contact Shawn Yesner, you can email him at Shawn@Yesnerlaw.com or visit www.YesnerLaw.com. 

[The Street] Could Reverse Mortgages Be the “Value” Play for Millions of Older Americans? [HECMWorld] FHA increases HECM limit for 2024. Here's how much [Trusted Mortgage Capital] How rate volatility is changing reverse mortgages Watch our video podcast here!

Timothy Jackson: A Visionary Leader in Addiction Treatment, Mental Health, and Community Engagement Timothy Jackson's illustrious career showcases his diverse and impactful contributions to society, marked by numerous noteworthy achievements: - **18-Year Career in Financial Services**: Timothy was a stalwart in the financial services industry for 18 years, specializing in retirement income planning. His financial expertise and role as the Head of Financial Planner Support and Education for the largest Ginnie Mae issuer of HECM mortgage-backed securities in the industry placed him on the national stage alongside thought leaders such as Wade Pfau, John Salter, and Harold Evensky. This experience not only elevated his profile but also laid the foundation for his future endeavors.   https://www.facebook.com/timothyrjackson?mibextid=LQQJ4d   Tiktok: timjackson18 IG: timjackson8869

[Reverse Mortgage Daily] HECM MMI Fund Remains Positive for Now [AOL] Americans continue to ransack their retirement savings, survey finds [Reverse Mortgage Daily] HUD announces plan to add more housing counselors Watch our video podcast here!

[The Sydney Morning Herald] Australians are flocking to reverse mortgages [The Mortgage Report] FHA publishes new HECM guidance in a consolidated handbook [CNBC] Why planning to work longer is a bad retirement plan Watch our video podcast here!

[RMD] FHA Commissioner says the agency is fully committed to the HECM program [Seeking Alpha] Finance of America expands its second lien reverse mortgage [RMD] Seller credits for H4P? FHA proposes policy change in the federal register to allow seller contributions Watch our video podcast here!

Is there any benefit to a reverse mortgage, or are they a scam? Is it a problem that a reverse mortgage has to be repaid when the borrower no longer lives in the home?  Doesn't that eliminate the inheritance that would otherwise go to the kids? Will a reverse mortgage create a deficit to the borrower if it is not repaid? What can you do with a reverse mortgage?  What can you use it for? What is the difference between a reverse mortgage and a HECM? In this week's episode Shawn and George talk to returning guest Michael Banner of www.LetsMoveForwardInReverse.com.  Michael became a licensed mortgage professional in 1982. Approximately 15 years ago his passion took a new direction, as his career became focused on assisting the senior segment of our industry as they approached, or were already in, the retirement portion of their lives. The gift of the "longer life spans" can sometimes be a "double edged sword" and Michael devoted his career to helping seniors with reverse mortgages. Michael is a nationally known speaker and published author, and has performed education classes for more than 20,000 financial planners, independent financial advisors, long term care insurance agents, attorneys and Realtors on the topic of The Use of Home Equity During Retirement. Over the last decade, he has appeared on hundreds of national, local and regional television, and radio broadcasts and his articles on the topic of Reverse Mortgages have appeared in the a variety of industry leading publications and blogs. You can also listen to Episode 120 to hear Michael's first interview on the Reverse Mortgage Industry!   https://yesnerlawpodcast.libsyn.com/episode-120-safely-using-a-reverse-mortgage-with-michael-banner Let us know if you enjoy this episode and, if so, please share it with your friends! Or, you can support the show by visiting our new Patreon page: https://www.patreon.com/crushingDebt  To contact George Curbelo, you can email him at GCFinancialCoach21@gmail.com or follow his Tiktok channel - https://www.tiktok.com/@curbelofinancialcoach  To contact Shawn Yesner, you can email him at Shawn@Yesnerlaw.com or visit www.YesnerLaw.com.