NY Times: Retirees Face Tough Odds in Getting New Loans – Reverse Mortgage Daily


NY Times: Retirees Face Tough Odds in Getting New Loans
Reverse Mortgage Daily
The Times profiles a 75-year-old borrower, Sanford Evans, with a credit score above 800 and more than a million dollars in brokerage accounts who was unable to qualify for a new mortgage due to lack of recorded income. He was able to meet a 40% down

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US News: Reverse Mortgages Turn Homes into “Pensions”
Reverse Mortgage Daily
While not actively marketed by the majority of reverse mortgage lenders, the tenure payment offered as one Home Equity Conversion Mortgage option can serve as a possible solution to retirees facing cash flow hardships, U.S. News reports. “The prospect
Turning your home equity into retirement incomeEmporia Gazette

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Reverse mortgage foreclosure: A growing tragedy for seniors – AllVoices
allvoices
While a reverse mortgage may help some seniors with needed income, there remains the danger of foreclosure. It's buried in the fine print so many seniors either don't understand, or don't know about the risks. A reverse mortgage is a loan available to

reverse mortgage loans – Google News

Monday Morning Cup of Coffee: Reverse mortgage delinquencies surge
Housing Wire
As concerns about defaults rise, the Federal Housing Agency recently discontinued a popular variety of fixed-rate reverse mortgages that paid the highest lump sums available through the program. If Congress gives the agency the authority, writes WSJ,

reverse mortgage loans – Google News

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