Reverse Mortgage Guide

The June issue of Mortgage Banking magazine offers an interesting article by Mary McGarity entitled, “Moving Forward In Reverse.”

One of the interesting points made in the article is that some 20 million homeowners may now qualify for a reverse mortgage and that the total value of their untapped equity could be as much as $3 to $5 trillion.

And to think, HUD just announced that it had originated 300,000 HECM loans since 1990. Suggests there may be some growth potential here, don’t you think?

Little wonder that lenders and Wall Street investors want their share of senior equity. Perhaps more interest will produce more competition — and thus lower fees and costs than we have seen to date.

This entry was posted on Wednesday, June 27th, 2007 at 3:24 am and is filed under Reverse Mortgage . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.