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

Life Health > Life Insurance

Lingering Home Value Strength Helps Reverse Mortgages

Your article was successfully shared with the contacts you provided.

The number of federally insured reverse mortgages increased to 76,351 during the fiscal year that ended Sept. 30, up from 43,131 from the previous fiscal year.

Large sales forces and increased consumer acceptance helped, but another factor was an increase in home values, according to a report on the reverse mortgage market by the National Reverse Mortgage Lenders Association, Washington, says.

Government agencies have noted that the housing market started to cool off this summer.

A reverse mortgage is a mechanism that older homeowners can use to borrow against home equity. The mortgages usually are repaid when the borrower dies or moves out and the home is sold.


© 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.