Nrmlaonline.org
Medicare and Home Health Care
WebFor more information about what Medicaid covers for home health care in your state, call your State medical assistance office. If you need the telephone number for your State, call 1-800-MEDICARE (1-800-633-4227 TTY/TDD: 1-877 …
Actived: 2 days ago
Using Home Equity Improves Retiree Health
WebWhile the strategic use of home equity can provide financial relief for retirees, a new study co-authored by Ohio State University researcher Stephanie Moulton finds that it is also good for their health. Every $10,000 that Medicare beneficiaries extracted from their homes greatly improved their success in controlling a chronic or serious disease, according to a …
NCOA Resource Guide Helps Older Adults Living Alone
WebThe National Council on Aging has created a comprehensive resource guide for older adults who are living alone to empower them to thrive independently and access essential services. “As you age, living alone can present various challenges, including social isolation, limited access to essential services, and potential health risks,” says NCOA.
Fidelity: Projected Healthcare Expenses Reach Record High
WebNew research from Fidelity forecasts the average 65-year-old couple will spend $300,000 on healthcare in retirement, while the 2021 estimate for singles is $157,000 for women and $143,000 for men. This year’s estimates mark a new record high, up 30 percent from a decade ago. “Health care is creating a ‘retirement cost gap’ for many pre-retirees,” says …
Health of HECM Program Improves in FY2022
WebBuoyed by strong home price appreciation, the financial health of the Home Equity Conversion Mortgage portfolio dramatically improved in fiscal year 2022, ending September 30 with stand-alone capital ratio of 22.75 percent, compared to 6.08 percent the previous year, the Department of Housing and Urban Development announced this week in its …
Choosing the Right Home Environment
WebThis consumer toolkit from the National Reverse Mortgage Lenders Association will help older homeowners consider whether their current home environment will best serve their needs as they age. NRMLA’s toolkit guides readers through a wide selection of housing possibilities. As reverse mortgage professionals and members of the National Reverse
Government Releases Annual Profile of Older Americans
WebHighlights: People age 65+ represented 17 percent of the population in the year 2020. That is expected to grow to 22 percent by 2040; The 2020 median income of older persons was $26,668 ($35,808 for men and $21,245 for women). Consumers age 65+ averaged out-of-pocket health care expenditures of $6,668 in 2020, up 38% from 2010.
NRMLA Seeks Clarification On New NBS Rules
WebIn comments submitted to the Department of Housing and Urban Development this week, NRMLA requested that HUD update the HECM loan documents and security instrument to conform with non-borrowing spouse protections announced in Mortgagee Letter 2021-11.. NRMLA’s comments include proposed technical edits to these documents.
1 Hour SAFE CE: The Math Behind HECMs Course Syllabus
WebPage 1 1 Hour SAFE CE: The Math Behind HECMs Course Syllabus Course Purpose: To provide reverse mortgage professionals with an in-depth understanding of how “the numbers” in a reverse mortgage transaction. Course Description: The course objectives are to help Illustrate how reverse mortgage interest rates are calculated, explain vital …
New CFPB Issue Spotlight: Medical Debt and Older Adults
WebIn 2020, nearly four million adults ages 65 and older reported having $53.8 billion in unpaid medical bills despite 98 percent of them having health insurance coverage. Nearly 70 percent of these older adults reported having medical insurance coverage from two or more sources. The CFPB released an Issue Spotlight that describes how the medical
USING HOME EQUITY TO SUSTAIN CASH FLOW FOR AGING …
WebAging solo: More HECM counseling clients lived alone (43%) compared to homeowners ages 62+ in the US population (32%). Financial flexibility: HECM counseling households faced fewer financial vulnerabilities and may have higher resiliency but …
2018 Western Regional Meeting
WebWhy Poor Nutrition is a Concern 50% of all diseases impacting older Americans - directly connected to lack of appropriate nutrient intake. Food insecure older adults are: 60% more likely to suffer congestive heart failure or a heart attack 50% more likely to have diabetes Three times as likely to suffer depression 1. Ziliak, Gunersen and Haiste.
The Market for Reverse Mortgages Among Older Americans
WebPublished in September 2020, the researchers found that 17-27 percent of actual and rejected borrowers would have qualified for a HECM reverse mortgage, or nine to 14 times the size of the actual HECM market. The existence of a large number of seniors with an existing mortgage or taking out a new mortgage with quite high LTVs (57-65%, …
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