The Age, Australia: Average Age of Seniors for All New Loans is Age 72.

Reverse mortgages market 'has doubled'
The Age - Melbourne,Victoria,Australia
More Australian seniors are taking out reverse mortgage loans to fund their retirement, resulting in a more than doubling of the market to $2.1 billion in the ...

Journal Times Online: Is A Reverse Mortgage Right For You

Is a reverse mortgage right for you
Journal Times Online - Racine,WI,USA
Under the right circumstances, a reverse mortgage can be a great way to turn the equity in your home into cash while you're still living in it. ...

Financial Standard: Australia Reverse Mortgages Picking up Pace.

 

Reverse mortgage sector picking up pace
The Financial Standard - Sydney,NSW,Australia
In the first comprehensive study undertaken on the Australian reverse mortgage industry, actuarial firm Trowbridge Deloitte reported that the sector had ...

Australia: Reverse Mortgage news

BER joins reverse mortgage market
Stuff.co.nz - Wellington,New Zealand
Competition for the $150 million reverse mortgage market is heating up with the arrival of Australian company Bluestone Equity Release. ...

Could Mean Lower Costs for Reverse Mortgages

New Ginnie Mae Security Could Lower Costs of Reverse Mortgages for ...
SeniorJournal.com - San Antonio,TX,USA
October 18, 2006 – In a move that is expected to expand the reverse mortgage business and provide lower rates for senior citizens, Ginnie Mae, the government ...

HECM MBS

New Ginnie Mae Mortgage-Backed Security Could Help Lower Costs of Reverse Mortgages for Older Americans

 

Washington, DC – Ginnie Mae today announced it is creating a Home Equity Conversion Mortgage Mortgage-Backed Security (HECM MBS). The HECM MBS will allow approved issuers to securitize and sell their Federal Housing Administration (FHA) insured home equity conversion mortgage loans in the form of a Ginnie Mae MBS. HECMs are commonly referred to as reverse mortgages, and are designed to allow older homeowners to convert the equity in their homes to monthly streams of income or lines of credit.

Bankrate.com Ask Dr Don Q&A Reverse Mortgages

Rethinking mom's investments
Bankrate.com - USA
... Now she only has $75,000 left and he is recommending a reverse mortgage for her. Help! She is 72 years old and owns her home, currently worth about $250,000. ...

Mortgage Cadence Finale Doc Prep Solution

 

Seattle Mortgage Subsidiary Takes Advantage of Mortgage Cadence ...
Business Wire (press release) - San Francisco,CA,USA
DENVER--(BUSINESS WIRE)--Mortgage Cadence, leading provider of enterprise lending solutions (ELS), announces that Reverse Mortgage of America (RMOA), a ...

Reverse Mortgage Q&A

 

WHAT HAPPENS WHEN A REVERSE MORTGAGE MATURES?

DEAR BOB: I am considering getting a senior-citizen reverse mortgage on my home. But what happens after I die? Who makes the decisions concerning the sale of my home such as selecting the real estate agent, asking price, repairs to be made, and whether to "stage" the house for sale? Who makes the decision to accept an offer or make a counteroffer? What if my son does not accept an offer and the house sits empty? What action can the reverse-mortgage holder take? --Frank M.

DEAR FRANK: Presuming your son is your sole heir, if he doesn't cooperate with the lender to pay off the reverse-mortgage balance after your death, the reverse-mortgage lender can hold a foreclosure sale.

Then the lender gets paid the mortgage balance, and any foreclosure-sale excess cash goes to your heir.

However, if your heir wishes to keep the house, he can obtain a new mortgage to pay off the reverse-mortgage balance and then own the house subject to the new mortgage.

Newsweek: Reverse Mortgage Smarts

Quinn: Mortgage Smarts
Newsweek - USA
... All that's about to change. Reverse Mortgage of America, a subsidiary of Seattle Mortgage, will soon roll out a lower-cost loan it calls a Lifestyle Plan. ...

Christian Science Monitor: Reverse Mortgage Q&A

 

Where to invest a real estate windfall depends on current needs
Christian Science Monitor - Boston,MA,USA
... Q: Besides the fact that you're spending your children's inheritance, what is the downside to a reverse mortgage? Can reverse mortgages ...