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Jack M. Guttentag is Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania. More

Recent Articles

How Retired Homeowners Can Avoid Running Out of Money: Alternative Strategies Compared

This article compares alternatiive strategies for using a HECM reverse mortgage to generate additional income in the future. Read Article

Keep Fannie Mae and Freddie Mac Until They Are No Longer Needed

This article argues that Fannie and Freddie won't be replaced by the private sector unless the Federal Government authorizes a new system of mortgage banks. Read Article

When Does it Make Sense For a House Purchaser to Pay All Cash?

This article explains an easily overlooked condition that can make an all cash house purchase less advantageus than employing a mortgage. Read Article

Foreclosures of Reverse Mortgages Are Different

Foreclosures of reverse mortgages differ from foreclosures of standard mortgages in that they seldom involve an eviction from the property. Read Article

Deregulation to Make the Home Mortgage Market Work Better: Removing Rigid Income Documentation Rules

This article argues that the income documentation rules adopted after the financial crisis were an over-reaction and should be modified. Read Article

Preventing Mortgages From Going Underwater (Second Article on Weaknesses of the Standard Mortgage)

This article proposes that, in order to prevent drastic declines in homeowner equity, such as those occurring during 2006-11, mortgage loan balances be adjusted for changes in house price indexes. Read Article

Making Mortgages More Manageable (First of Two Articles on Weaknesses of the Standard Mortgage)

This article proposes that the standard mortgage be made more manageable to borrowers by mving from a minimum required monthly payment to a maximum allowable balance that would decline over time. Read Article

How Senior Homeowners Can Hedge Property Value Risk

This article describes how a senior homeowner can use a HECM reverse mortgage to hedge property value risk, retaining fixed payments in a down market and refinancing into larger payments in a bouyant market. Read Article

Mortgage Shopping at Multi-Lender Web Sites

This article describes the features of multi-lender web sites that mortgage shoppers, seeking competitive prices and guidance, should look for. Read Article