AARP Report: 20 year Anniversary for HECM’s

j0422149.jpgI recently came across a report that was completed by AARP. The name of the report is “Reverse Mortgages: Niche product or Mainstream Solution.” In the celebration of the 20th Anniversary of FHA’s HECM, AARP did thorough research to find out how far the HECM has come since its birth in 1988.

Within the report, which is quite lengthy, you will learn about how many HECM’s have been completed, consumer awareness issues, what consumers had used reverse mortgages for, and their evaluation of how the reverse mortgage accomplished their goals. It also takes a look at the reasons some consumers decided against taking out a reverse mortgage. Lastly, the full report goes into what recommendations they have for the development of the reverse mortgage products.

For anyone interested in the details of the industry, this is a must read. You can either read the full version(aarp_rmreportfull.pdf), or you can read the brief version(aarp_rmbrief.pdf) of the report. Enjoy!

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