Not too long ago, The Wall Street Journal Report with Maria Bartiromo, aired an interview with Andy Cohen, CEO and co-founder of Caring.com. During the interview Mr. Cohen highlighted the challenges that many baby boomers are struggling with while providing care and financial aid to aging parents. Currently, 45 percent of adult children in the […]

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A recent report published by (NHC) National Housing Conference indicates that the next big challenge facing Baby Boomers could be their inability to “Age in Place.” In turn, this will cause major challenges for the healthcare industry as well as the housing market. The NHC report states: “A growing population of Baby Boomers poses significant […]

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Many Baby Boomers have not saved enough to live comfortably throughout retirement, especially if retirement could last 20 or 30 years. This is not breaking news…We have been hearing this familiar drum beat for years now. However, as a recent Reuters article points out, many Boomers do have substantial home equity, especially now that housing […]

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An article published by U.S. News points out the merits of using a reverse mortgage like an annuity or pension plan to supplement retirement income. The author Philip Moeller, makes the point that, “Most surveys project baby boomers will face serious financial shortfalls in their retirement years. Accessing home equity in a safe and predictable […]

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California Assembly Member Jose Medina, sponsor of A.B. 553, pulled his bill from the legislative approval process. The legislation would have mandated new requirements for California reverse mortgage borrowers. As it was originally written, the bill would have required lenders to provide a suitability checklist along with a California specific disclosure to prospective borrowers seven […]

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According to Fidelity Investment’s president of asset management, Ronald P. O’Hanley, a catastrophe is looming for millions of baby boomers that are ill prepared financially for retirement. He stressed the fact that not only are boomers not prepared financially for retirement, but exacerbating the problem is the fact that life expectancy for boomers is longer […]

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In the wake of the recent suspension of the HECM (Home Equity Conversion Mortgage) Fixed rate reverse mortgage, the industry and seniors are bracing for even more tweaks to this much needed financial tool for retirees. FHA and HUD have been justifying the need for changes to the reverse mortgage products because of a 2.8 […]

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Federal Housing Administration’s Acting Assistant Secretary, Carol Galante, in a letter to Senator Bob Corker (R-TN) said FHA is willing to place a moratorium on offering the Standard Fixed Rate Reverse Mortgage loan as an option under the HECM menu of available loan choices. Her intention is to have this policy change in place by […]

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