Why a reverse mortgage could be viable in a ‘gray divorce' situation [Yahoo! Finance]
Finance of America Companies Inc. Class A (FOA)
Company Research
Source: Yahoo! Finance
According to a 2022 study published in the Journals of Gerontology, the rate of divorce among those ages 50 and older has doubled since 1990 and has tripled for those 65 or older. Gray divorce can come with a myriad of financial headaches for those determining what post-married life will look like and how previously intertwined financial situations can be separated. Housing is one such issue, but a new column published by Success magazine suggests that a reverse mortgage could play an assistive role. Nancy Hetrick, founder and CEO of Smarter Divorce Solutions and a divorce financial analyst, discussed the ways that a reverse mortgage could be employed for separating couples who meet the loan qualification standards. Hetrick told the outlet that these loans “are now fully regulated and insured and are no longer the scam vehicles they were in the ‘80s,” the column read. The Home Equity Conversion Mortgage (HECM) program was created via legislation in 1988 , with the first loan hav
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- Finance of America Companies Inc. (FOA) Q2 2024 Earnings Call Transcript [Seeking Alpha]Seeking Alpha
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- 9/17/24 - Form PRE
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- 8/9/24 - Form IRANNOTICE
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