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How reverse mortgages could improve financial stability for older homeowners

How reverse mortgages could improve financial stability for older homeowners

HousingWire recently spoke with Christian Mills, head of Financial Advisor Relations at Reverse Mortgage Funding, about the ways a reverse mortgage can create a stable cash flow for homeowners in the midst of a volatile housing market.ย 

The post How reverse mortgages could improve financial stability for older homeowners appeared first on HousingWire.

How reverse mortgages could improve financial stability for older homeowners
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How reverse mortgages could improve financial stability for older homeowners
How reverse mortgages could improve financial stability for older homeowners
How reverse mortgages could improve financial stability for older homeowners
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housingwire housingwire | 1 year ago
HousingWire recently spoke with Christian Mills, head of Financial Advisor Relations at Reverse Mortgage Funding, about the ways a reverse mortgage can create a stable cash flow for homeowners in the midst of a volatile housing market.ย  The post How reverse mortgages could improve financial stability for older homeowners appeared first on HousingWire.
HousingWire recently spoke with Christian Mills, head of Financial Advisor Relations at Reverse Mortgage Funding, about the ways a reverse mortgage can create a stable cash flow for homeowners in the midst of a volatile housing market.ย  The post How reverse mortgages could improve financial stability for older homeowners appeared first on HousingWire.
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On May 20, 2022 a new law went into effect in New York State which allows owners of co-ops to apply for reverse mortgages. Up until the time this statute went into effect, seniors who wanted to obtain a reverse mortgage on their co-op apartments, were unable to do so. The reason for this is that co-ops are not real property under the law in New York State. The owners of a co-op have a personal property interest in the shares of the cooperative apartment corporation. Co-Op Mortgages and How They ...
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