by Darren Moffatt
16 October 2009
The number of reverse mortgages in Australia has increased, a new study has found.
According to the report by Deloitte Actuaries and Consultants, the local reverse mortgage market grew by 13 per cent over the last financial year, measured by outstanding balances after 4,950 new borrowers entered the market.
The average age of the reverse mortgage borrower [...]
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by Darren Moffatt
8 October 2009
The Sydney Morning Herald recently reported that the NSW Government is about to strip the elderly of a portion of their hard-won pension increases, defying the wishes of the Prime Minister.
NSW and other states will raise public housing rents for single aged-care pensioners in tandem with their $30-a-week pension increase.
It means that, from September next [...]
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Reverse mortgage popularity peaks in U.S
by Darren Moffatt 1 February 2010According to Reverse Mortgage Daily, a U.S leading blog on reverse mortgages, the ‘penetration rate’ for reverse mortgages has just exceeded 2% for the first time.
This means that of all households in America that are eligible, more than 2 per cent have now established a reverse mortgage to help fund their retirement. By comparison in Australia, where our reverse [...]