Real Estate: Stick to the Long-Term Plan!

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Reverse mortgages! Don't fail me now!

March 9, 2008
Some Seniors Victimized in Reverse Mortgage Boom

The growth in these mortgages has skyrocketed in recent years. According to a 2007 report from the Department of Housing and Urban Development, the number of reverse mortgages grew from nearly 8,000 in 2001 to more than 107,000 last year. The average loan amount grew 80 percent to $138,700 during the same time period, a 2007 report from the AARP Public Policy Institute found.

December 12, 2012
It’s full-speed ahead for reverse-mortgage industry

Borrowers also are increasingly likely to use reverse mortgages for other purposes than daily living expenses. Many are paying off a traditional mortgage in order to retire early.

Fantastic!

Source Data:
St. Louis Fed: Custom Chart