Why are seniors struggling to understand reverse mortgages? Should you use a property management company for your rental property? Get answers to these questions by listening to this week’s Ilyce Glink Show. You can click the audio link below to listen to the full show, or download the podcast via iTunes.
On this week’s show I talk to Peter Bell, president and CEO of the National Reverse Mortgage Lenders Association, about some of the changes being implemented by the Department of Housing and Urban Development to better educate and protect consumers who apply for reverse mortgages.
More About This Show
Glinkonomics Report [1:00]
Seniors Struggle to Understand Reverse Mortgages [4:03]
A recent study showed that seniors are often misled by advertisements promoting reverse mortgage products. Industry regulators are hoping to fix that.
Reverse mortgages (also known as home equity conversion mortgages, or HECMs) are financial instruments that allow seniors aged 62 and older to borrow money against their existing home equity. But research by the Consumer Financial Protection Bureau has revealed that many of these seniors fail to grasp the fact that reverse mortgages are loans and that the lenders who provide them must eventually be repaid.
Should You Use a Property Management Company for Your Rental Property?[21:17]
Any responsible landlord knows a lot of work goes into managing a rental property. So is it smart to outsource some of that work to a property management company?
Property management companies can take care of many tasks that landlords otherwise must handle themselves, from finding tenants and collecting rent to handling the upkeep of the property itself. But that assistance costs money, so it comes down to whether saving some time on rental property upkeep and management is worth eating into your bottom line.
5 Ways to Boost Home Value Without Remodeling [24:30]
There are plenty of ways to raise your property value without remodeling or digging too deeply into your wallet.
Google “ways to boost home value” and you’ll quickly find millions of articles about remodeling projects that should increase the value of your home substantially. But what if you don’t need – or simply don’t want – to do any remodeling, but still want to boost your home’s value as much as possible?
Property values are measured in a variety of ways, but only one really matters: How much can you get someone to pay if and when you sell your home? Home prices vary based on perceived value, which is why homeowners want to improve the perception of their properties in any way possible – especially if they’re preparing to sell their homes.
If you have any questions about this show or in general, email me at [email protected]
Click the audio link below to listen to the full Ilyce Glink Show.
Thanks for listening!