Tag

reverse mortgage

The Plight of the "Move-down Buyer"

Stuck in Place A healthy housing market functions like a gigantic escalator. The bottom rungs are occupied by first-time Buyers. As they purchase entry-level homes, the Sellers of those homes (“Move-up Buyers”) typically buy larger homes, enabling Sellers of those homes to buy even bigger homes. And so on, and so on. One of the...
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Baby Boomers & Reverse Mortgages

Next Big Thing: Reverse Mortgages Take 80 million Baby Boomers fast closing in on retirement age, many of whom (still) have lots accumulated equity in their now too-big homes, and what do you get? A vast potential market for something called a reverse mortgage. Like its name suggests, in a reverse mortgage, the lender pays...
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No More "No Doc" Loans? Think Again

Reverse Mortgages Gain in Popularity So, after all the fiascoes with subprime mortgages and lax underwriting standards (if you can call them that), “no doc” loans are a thing of the past, right? For the most part. However, there’s still a niche of the market where lenders are approving borrowers with virtually no paperwork: reverse...
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