Today, more than 30 million families own condominiums. In many of the major metropolitan areas, it is the dominant housing option. While it can be difficult, if not impossible, to get a HECM on a condo if the property isn’t already FHA approved, the burgeoning market for proprietary reverse mortgages creates new opportunities.
Reverse mortgages, whether HECM or proprietary, represents a fraction of the equity release marketplace which staff writer Mark Olshaker explores in his article, “Equity Release Alternatives: Are they competition for reverse mortgages or complementary?” And finally, attorney Sandy Shatz of McGlinchey Stafford, provides valuable guidance for members on complying with California’s Consumer Privacy Act – the most comprehensive consumer privacy law ever enacted at the state level – which takes effect on January 1, 2020.