Archive for September 26, 2017
reverse mortgage to delay Social Security
Should you use a reverse mortgage to delay taking Social Security? Robert Powell, Special for USA TODAY. Financial advisers often suggest that you delay taking Social Security until full or normal retirement age (FRA) if not later — to age 70. And the reasons are many: You’ll get 100% of your primary insurance amount (PIA)…
Read MoreWhat HUD’s New Rules Mean
What HUD’s New Rules Mean for the Reverse Mortgage Industry The Department of Housing and Urban Development on Tuesday shook the reverse mortgage world with new rules regarding mortgage insurance premiums and principal limits. While the industry continues to sort out the exact effects — many of which may not be known until after the…
Read MoreOctober reforms
October Reverse mortgage reforms create stampede among would-be borrowers. HUD raising up-front fees for reverse mortgages starting October 2nd. A rules change that will raise fees and reduce loan amounts for reverse mortgages apparently has created a nationwide rush to get new loans completed before the reforms take effect Monday, October, 2. Agencies providing financial…
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