Archive for November, 2007
Reverse mortgage trap fears
Reverse mortgage trap fears, Australia’s investment watchdog has called for better disclosure on reverse mortgage products after it found home-owners failed to understand the complex nature of the financial products and struggled to budget. The Australian Securities and Investments Commission report, `All we have is this house’, found some older reverse mortgage holders were also [...]
Reverse mortgage: What you need to know [Column]
Reverse mortgage: What you need to know [Column], Some time ago, a puzzled reader sent me an official-looking mailing she’d received, and today the letter carrier brought me my very own copy. Pretty exciting. It starts with news about a new “2007 Government Regulated Senior Program,” that “protects seniors,” and it offers a “2007 Senior [...]
For mortgages in reverse, it’s a new chapter
For mortgages in reverse, it’s a new chapter, One part of the mortgage market is hot: reverse mortgages. And that’s giving older homeowners more options to tap the equity in their homes – but also is opening the door to more confusion and mistakes. Only a year ago, homeowners interested in reverse mortgages had little [...]