In the News

Title

Forbes: Must-Knows About Reverse Mortgage Upfront Costs

Document Type

Article

Publication Date

2-25-2016

Abstract

The latest in a series of reverse mortgage articles this week, Forbes recently spotlighted the upfront costs, among the other expenses, often associated with Home Equity Conversion Mortgages (HECMs).

The article, written by Wade Pfau, a professor of retirement income at The American College in Bryn Mawr, Pa., and frequent reverse mortgage commentator, details the three main expenditures to open a HECM: upfront costs, the initial mortgage insurance premium and closing costs.