New Year’s Round-Up: Why Fox Says ‘No’ To Reverse Mortgages

The Reverse Mortgage Daily team would like to wish our readers a happy new year!

We will be suspending our daily emails for the remainder of the week in observance of New Year’s Day, but will resume our normal schedule on Monday, Jan. 5.

But before you pop the bubbly and ring in the new year, check out the most read stories on RMD this week: 

Fox Business: Reasons for Not Getting a Reverse Mortgage — While mainstream press has recently appeared to shift more favorably toward reverse mortgage use, a Fox Business article recently took a different approach by spelling out 10 reasons not to take out these loans. Find out what Fox said.

Ocwen Downgraded Again, Plans to Sell Agency MSRs — A day after reaching a $150 million regulatory settlement and the departure of its executive chairman, Ocwen Financial Corporation (NYSE: OCN) received yet another downgrade from Fitch Ratings, which downgraded the company’s bond rating from B to B-. 

Reverse Mortgage: Last Option or Best Hope? — As the reverse mortgage industry draws near to new program changes taking effect in 2015, one article suggests it’s time to stop thinking about the product as a penalty or a last resort, and start thinking about it as a retirement tool.

HuffPo: Reverse Mortgage Borrowers Should Consider Wealth Goals — Wanting to maximize wealth, rather than consumption, is an important distinction among reverse mortgage prospective borrowers. Jack Guttentag, also known as The Mortgage Professor, outlines the difference via his blog, published by the Huffington Post.

In the Spotlight: America’s Aging Tsunami Crisis — Despite countless studies, surveys, reports and projections of the impending demand America’s aging population will have for health care and housing services, many cities are still wildly unprepared, especially those in rural areas.

Written by Emily Study

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