Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Financial Planning > Tax Planning

Firm Boosts Reverse-Mortgage Originations 80%

Your article was successfully shared with the contacts you provided.

NU Online News Service, July 21, 2003, 4:05 p.m. EDT – Financial Freedom Senior Funding Corp., Irvine, Calif., says it originated about 6,000 reverse mortgage loans during the first six months of 2003, up 80% from the number originated during the first six months of 2002.

Financial Freedom, a unit of Lehman Brothers Inc., New York, handles about half of all U.S. reverse mortgage loans, the company says.

Reverse mortgages give homeowners over age 62 the ability to convert part of the equity in their homes into tax-free income. The borrowers get to stay in their homes as long as they make their property tax and insurance payments, but they are not able to pass their homes on to their children or other heirs.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.