Reverse

Q3 Senior Home Equity Hits $6.1 Trillion Mark

The National Reverse Mortgage Lenders Association (NRMLA) has reported that homeowners aged 62 and older saw an overall 2.6 percent increase of $152 billion in senior home equity in the third quarter of the year, bringing the total to $6.1 trillion.

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In a data analysis that will certain create agita among reverse mortgage providers, U.S. seniors are overwhelmingly apathetic and confused about the value of reverse mortgages.

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A 95-year-old woman is suing a pair of reverse mortgage companies for levying excessive fees on her after her home fell into foreclosure.

New Jersey’s Bergen County is providing $20,000 to its Division of Senior Services for legal referrals to assist low-income seniors who have defaulted on their reverse mortgages.

The nation’s seniors are holding $5.83 trillion in home equity, according to new data from the National Reverse Mortgage Lenders Association (NRMLA)

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