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Senior Home Equity Hits New Peak
American household debt is on track to surpass the peak debt level set in 2008
The housing wealth for homeowners ages 62 and older grew to $6.82 trillion during the first quarter of this year, increase of $177 billion over the fourth quarter of last year, according to the National Reverse Mortgage Lenders Association (NRMLA).   The NRMLA/RiskSpan Reverse Mortgage Market Index... Keep Reading....
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The National Reverse Mortgage Lenders Association (NRLMA) is shining a new spotlight on elder abuse with the release of a new consumer brochure addressing this disturbing subject
 The National Reverse Mortgage Lenders Association (NRLMA) is shining a new spotlight on elder abuse with the release of a new consumer brochure addressing this disturbing subject.   The free brochure titled “Recognize & Report Elder Financial Abuse” provides resources and information for... more
CIT Group Inc. has completed the sale of its Financial Freedom reverse mortgage servicing business and the related reverse mortgage portfolio to an undisclosed buyer
 CIT Group Inc. has completed the sale of its Financial Freedom reverse mortgage servicing business and the related reverse mortgage portfolio to an undisclosed buyer.   According to the New York-based company, the transaction covered mortgage servicing rights (MSRs) and $879 million of reverse... more
In 2017, media outlets reported that Ocwen Financial Corporation was evaluating the potential sale of the company’s reverse lending business, Liberty Home Equity Solutions. This news took many in the reverse industry by surprise.     However, in late February 2018, Ocwen provided an update and... more
Homeowner-related expenses including mortgages and home equity loans are the largest source of debt for older Americans, according to a new survey released by SeniorHomes.com
 Homeowner-related expenses including mortgages and home equity loans are the largest source of debt for older Americans, according to a new survey released by SeniorHomes.com.   More than half of Americans who are 55 or over are in debt, with 40 percent owing $50,000 or more to creditors. Fifty-two... more

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