The Federal Housing Administration (FHA) recently announced the launch of a new reverse mortgage product, the Home Equity Conversion Mortgage Saver (HECM Saver), which involves fewer upfront charges than the existing version of the Home Equity Conversion Mortgage (HECM) reverse mortgage product. Reverse mortgages are a form of federally insured home loans, which are specifically [...]

Due to the poor forecasts for annuity rates, many industry experts have predicted a rise in the number of elderly people who choose to release the equity in their homes through equity release schemes, in order to finance their retirement. Kevin Stelfox, the Sales Director at Retirement Solutions Ltd., recently commented on the situation: “The [...]

The US Department of Housing and Urban Development (HUD) recently announced the introduction of a new version of the Home Equity Conversion Mortgage (HECM) reverse mortgage loan insured by the federal government, which will be known as the ‘HECM Saver’. The previous version of the HECM reverse mortgage loan will now be referred to as [...]

The American Advisors Group (AAG) has recently launched a new question and answer website that aims to assist senior citizens with their queries regarding reverse mortgages. The new website ReverseMortgageQA.com has been designed to provide specific information related to the individual questions about reverse mortgages that senior citizens may have, and the service will be [...]