In case you missed it… here’s what’s happened in reverse mortgage news this week.
An NPR segment talked home equity and reverse mortgages as an option for home owners. The segment asks: “So what should be done with the house? Try selling in a depressed market? Or rent it until prices perk up? Or would it make more sense to take out a reverse mortgage and try to stay in the house, using cash from the transaction to hire more help?” Check out the segment.
For aging in place, does it take a “village”? A Boston Globe article looked into the concept of a “Village”-based senior living community, for those who prefer to stay in their homes rather than move into a designated senior living community.
Reverse mortgage execs stressed the need to go online with marketing. Speaking on a panel at a recent NRMLA conference in Irvine, American Advisors Group’s CEO said he expects online marketing to one day outdo TV ads for reverse mortgages. He shared stats on the types of borrowers that are looking for information online, and how to connect with them.
First Century Bank rolled out a reverse mortgage “Advisor” program. The program allows regulated financial institutions to generate additional fee income without the overhead needed to run a reverse mortgage operation. Find out more.
Happy Memorial Day to all readers! We’ll be back Tuesday, May 29.
Written by Elizabeth Ecker
