Retirement Crisis Looms, Mortgage Debt Among 60+ Rises

ReverseFocusReverse Focus Weekly Podcast Episode #331

Preparing to have enough finances in retirement weighs heavy on Americans’ minds, recent news outlets have reported, especially as data show mortgage debt is on the rise for Americans aged 60 and older.

In this week’s Reverse Focus podcast, Shannon Hicks talks about a recent Wall Street Journal article, among other recent coverage on reverse mortgages.

Readers expressed their disagreement with a recent Wall Street Journal article that said the retirement crisis was “imaginary,” sharing details of their own long term financial concerns and pointing to recent data that show the median retirement account balance for all Americans households was 0 in 2013. 

Top 10 reverse mortgage originator Generation Mortgage recently announced its decision to cease reverse mortgage originations. Tune in to the podcast to learn more.

September home price data marks the 11th straight month of moderating gains, according to the October 2014 Market Report by Clear Capital. And consumer confidence remains a hardship on stabilizing the market. 

Lastly, mortgage debt comprised 76.3% of seniors’ wallets this year, with an average mortgage loan balance per consumer of $160,120. 

To listen, login or become a free member to access past and current episodes.

Talking Points:

  • Wall Street Journal: The Retirement Crisis is Real
  • Moderating home prices signal future market decline
  • Mortgage debt on the rise for those 60 years and older
  • Generation Mortgage to cease reverse mortgage originations

Listen now“Reverse Focus is the ultimate resource for reverse mortgage professionals providing the technology, training and marketing to grow your business. We are your one-stop resource for those committed to taking their business to the next level.” Editor’s Note: These posts are sponsored by Reverse Focus.

Written by Cassandra Dowell

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