September 14th, 2011 By Jason Alderman Senior Director, Global Financial Education, VISA You can scarcely turn on the TV without seeing ads for reverse mortgages. They’re touted as a great tool for cash-strapped seniors to tap their home equity to pay off bills while remaining in their homes with no monthly mortgage payments. Although that may be true [...]
July 18th, 2011 Many older Americans find themselves house rich and cash poor. They own their home, or at least have significant equity in it, yet struggle to make ends meet each month. They could sell their home, but are not inclined to move and leave their memories behind. A reverse mortgage may be the answer they seek. [...]
June 2nd, 2011 Many say that housing led America into the economic downturn, thus housing will need to lead the way out. If true, the NFCC May online poll provides little hope. Compared to the identical questions posed in May 2010, the 2011 results show very little movement between the years, with each poll revealing that close to [...]
April 12th, 2011 The National Foundation for Credit Counseling (NFCC) is the recipient of a Housing and Urban Development (HUD) program grant to assist seniors who have taken out a Home Equity Conversion Mortgage (HECM) and who are delinquent on their property charges, such as taxes and insurance, thus putting their home in danger of foreclosure. The HECM [...]