Home Buying Patterns of Seniors

Two New Studies Look at Homebuying Patterns of Older Americans 

Slightly more than half of older second home owners spend two weeks or less in their second homes and two-thirds spend fewer than four weeks. This perhaps indicates that most of these second homes are held for investment rather than recreation. Only 12.9 percent plan to make their second home their main residence in the future. The HRS study is longitudinal so the authors were able to conclude that, of those second home owners identified in the study in 1998, 45 percent owned only one home by 2004 and to extrapolate that the typical second home belonging to older households is owned for 15 years before being sold. For the typical second home owner, equity in that home represented only 13 percent of the household wealth.

The study's most surprising conclusion about second home ownership among the Boomers included in the data is that they were no more likely to own such homes than those who preceded them by one or two generations.

Reduced Reverse Mortgages Fees

Partnership Reduces Reverse Mortgage Costs for Senior Citizens
Business Wire (press release) - San Francisco,CA,USA
... This solution includes reverse mortgage documents for Fannie Mae HomeKeeper, FHA HECM (Home Equity Conversion Mortgage) and Reverse Mortgage of America's new ...

Countrywide Emphasing Reverse Mortgages

Countrywide plans to lay off more than 2,500 workers

and keep revenue flowing by emphasizing products like
refinance, reverse mortgage, commercial and construction loans

 

 

Countrywide said it has "invested in new business lines to supplement its current
residential mortgage operations, as evidenced by the recent introduction of its
Reverse Mortgage, Commercial Real Estate Lending and Builder Finance
Lending units."

7ONLINE - Press Release -Andrew Housser is a co-founder and CEO of Bills.com,

What to Know About a Reverse Mortgage
7Online.com - New York,NY,USA
... One among them seems all the rage: the reverse mortgage. ... Homeowners with little equity will not gain enough from a reverse mortgage to make it worthwhile. ...

San Antonio Express- Pro & Cons of Reverse Mortgages.

Jeanie Wyatt: Some pros and cons of reverse mortgages
San Antonio Express - San Antonio,TX,USA
... Still, HECM reverse mortgages do protect heirs by insuring them against paying an amount that exceeds the home's value, in case the property depreciates.

JAPAN : The Daily Yomiuri- Reverse Mortgages Help Elderly After Earthquake.

Reverse mortgages to help quake survivors
The Daily Yomiuri - Osaka,Japan
The Niigata prefectural government is to introduce a reverse mortgage system for elderly survivors of the 2004 Niigata Prefecture Chuetsu Earthquake who are ...

Reverse Mortgage USA-Sees 100% Growth

Reverse Mortgage USA in 5% of Lenders that Specialize in Reverse ...
SBWire (press release) - Green Bay,WI,USA
California based Reverse Mortgage USA is a member of a select group specializing in Reverse Mortgages. Company sees over 100% increase ...

Reverse Mortgage of America= New Jumbo Loan

Leading Reverse Mortgage Lender Offers New Jumbo Loan Product
Business Wire (press release) - San Francisco,CA,USA
SEATTLE--(BUSINESS WIRE)--Reverse Mortgage of America, a leader in the reverse mortgage industry, today announces the release of The Independence Plan SM , a

Reverse Mortgage Broker Training

Reverse Mortgage Training Website Generating Huge Mortgage Broker ...
PR Web (press release) - Ferndale,WA,USA
The Association of Reverse Mortgage Specialists, Inc. ... (PRWEB) October 20, 2006 -- The Association of Reverse Mortgage Specialists, Inc. ...