Reverse Mortgage Originators See Opportunity with Single Female Borrowers

By Team Hochberg | November 12, 2018

By: Maggie Callahan The real estate market is seeing more activity from older, single – especially divorced – women, and the reverse mortgage industry is no different. Not only is the number of baby boomer marriages ending in divorce growing faster than other groups, but widows continue to outnumber widowers. Howard Frankel, senior reverse mortgage loan officer…

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Reverse Mortgages Help Curb Retirement Risk for Divorced Women

By Team Hochberg | November 12, 2018

by Alex Spanko Reverse mortgages have been increasingly pitched as a way to stave off the effects of so-called “gray divorce,” and a new research brief shows just how a split can put both parties’ retirement futures at risk — and how home equity benefits one demographic in particular. Households in which at least one…

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Reverse Mortgage Originators Look to Emulate Lenders’ TV, Radio Success

By Team Hochberg | November 12, 2018

by Maggie Callahan Big-name pitchmen like Tom Selleck and Henry Winkler have graced reverse mortgage ads for large national lenders for years, but local originators also have also found their own paths to success using TV, radio, and the internet. Michael Banner, the president of Professional Mortgage Alliance LLC in Clearwater, Fla., is no stranger…

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Originators See Growing Reverse Mortgage Support from Adult Children

By Team Hochberg | November 12, 2018

 by Maggie Callahan As adult children become less debt-adverse and more involved in their parents’ finances, originators are noticing more receptivity and engagement from borrowers’ children during the reverse mortgage loan process. Laurie MacNaughton, a reverse mortgage specialist with Atlantic Coast Mortgage in the Washington, D.C. area, says more adult children are picking up the…

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21% of Boomers Lack Savings for One Month’s Expenses

By Team Hochberg | November 12, 2018

by Maggie Callahan Yet another poll reveals that all generations feel unprepared when it comes to retirement savings — with 21% of baby boomers lacking adequate savings to cover one month of basic expenses, according to AARP. Co-commissioned with the Association of Young Americans, the “Three Generations Survey” asked baby boomers,Generation Xers, and millennials, a…

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96% of High Net Worth Advisors say Clients Want to Remain at Home

By Team Hochberg | November 12, 2018

By Maggie Callahan Fewer than a quarter of high-net-worth individuals have a firm plan for long-term care, but nearly all of them suggested a preference to age in place independently, a poll from Key Private Bank revealed last month. Key Private Bank, the wealth management arm of bank-based financial services company KeyCorp, surveyed more than…

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Fed: Less than 40% of Americans on the Right Retirement Track

By Team Hochberg | November 12, 2018

by Alex Spanko Less than 40% of Americans say their retirement plans are on track, and non-retirees report widespread confusion about some common financial tools and concepts, according to a new report from the Federal Reserve. Three-fifths of working people with 401(k)s, IRAs, and traditional savings accounts reported “little or no comfort” with managing them, the Fed…

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