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Retirees may be turning to home equity to finance healthcare shocks: report

Housing Wire

Long-term care (LTC) will likely play a large part in the lives of Americans as the population continues to age, but financing it can be a financial challenge for people particularly on a fixed income. While many retirees often do not intend to tap their home equity to finance such moves, they may often end up doing so.

Finance 332
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CoreLogic’s John Rogers on AI, climate risk and land development issues

Housing Wire

Rogers met with HousingWire to discuss his new role and cover a variety of topics, including artificial intelligence (AI), climate risk and land development. The insurance commissioner there declared 13 resiliency prerequisites. Obviously, insurance premiums have skyrocketed. John Rogers: I’m very fortunate to be in the role.

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Insurance Crisis Continues to Weigh on Homeowners

Appraisal Buzz

Its not just home prices that are expensive, as they hover at historically high levels; rising insurance premiums are contributing to the growing costs of homeownership and property management. Home, rental, and property-related insurance products are ubiquitous and foundational to the health of the U.S. housing market.

Insurance 379
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Florida has built 77,000 new homes in high-risk flood areas

Housing Wire

The construction activity is likely to place the housing industry and its financing partners on a “collision course” with insurers, the outlet said. Big payouts from natural disasters are driving insurers to raise rates and pull back on coverage,” the report stated. The area was still cleaning up from Helene when Milton hit.”

Insurance 497
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As LA fires burn, reverse mortgage industry emphasizes need for servicer, insurer contacts

Housing Wire

Leading reverse mortgage industry lender Finance of America (FOA) also expressed concern for residents and affiliates impacted by the wildfires and is working to deploy its own resources quickly. The situation in Los Angeles is heartbreaking. I’ve looked at the numbers of the counties with the most reverse mortgages in the U.S.,

Insurance 395
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Can Modernizing Manufactured Home Financing Help Solve Affordable Housing?

Appraisal Buzz

FinRegLab analyzed this situation in a new report to see how automating and updating federal insurance programs to make them home only might ease some of the strain of the affordable housing crisis. Increasing access to affordable home-only loans is an important strategy for addressing the housing crisis, said FinRegLab CEO Melissa Koide.

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Reverse purchase financing: The financing option no one is talking about

Housing Wire

That’s where reverse purchase financing comes into play, the funding option specifically designed for older Americans. What is reverse purchase financing? This is a huge boon for the program as seller concessions have not been allowed within the FHA-insured program since its inception.

Finance 482