Posted To: Pipeline Press

Dang it is becoming more and more expensive to follow all the rules and regulations to originate residential loans. These costs, of course, are borne by the consumer. (See some of the CFPB’s news below.) And it costs a lot to retire. You don’t have to specialize in reverse mortgage lending to be curious if people in or nearing retirement know how to create viable retirement income plan. (In fact, this is a good tool to help teach kids.) The results from the American College of Financial Services Retirement Income Literacy Quiz show not so much. The test, consisting of 38 multiple-choice questions, covered virtually every aspect of managing one’s finances in retirement. Nearly 75% of the 1,244 adults ages 60 to 75 interviewed online for the test got an F (a score of 60% or less)…(read more)

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Source: Mortgage News Daily