Shutdown Leaves Reverse Mortgage Backlog, 70 the New 62 for Retirement?

ReverseFocusReverse Focus Weekly Podcast Episode #281

In this week’s Reverse Focus podcast, Shannon Hicks discusses that while traditional lending appears to be left unscathed by the government shutdown, the reverse mortgage market will experience continued delays for the next month or so as the Department of Housing and Urban Development is left to process a backlog of reverse mortgages.

Also discussed, the new retirement age looks to be age 70 as more Americans are holding off until then to claim lifetime benefits such as Social Security, according to a new retirement research brief.

Recent estimates from the Congressional Budget Office show the Federal Housing Administration (FHA) guarantee of single-family mortgages in the past 20 years have been more costly than anticipated, however, FHA estimates disagree.

Lastly discussed, rising annual home prices are causing concern that the nation may be approaching the brink of another housing bubble. Sluggish income increases coupled with rising home values and interest rates threaten to place some metros at risk of becoming unaffordable. 

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Talking Points:

  • Government shutdown leaves backlog of reverse mortgages
  • Is 70 the new 62 for retirement?
  • Overspent: FHA insurance fund savings or losses?
  • Retreating from the edge of a housing bubble

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.

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