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

Recent Articles

Can You Shop For the Best Deal on a HECM Reverse Mortgage?

Yes, but the variables for which reverse mortgage borrowers should shop vary with their objective, and in no case are they the interest rate and lender fees. Read Article

With Interest Rate Increases on the Horizon, Mortgage Borrowers Should Lock the Price ASAP

This article explains why this is a good time for mortgage borrowers to lock the price of their mortgage, and how to lock the right price. Read Article

Should You Pay Off an Existing Mortgage Balance Before Taking a HECM Reverse Mortgage?

Borrowers who can't shop effectively, which is most of them, will do better paying off their existing mortgage balance before taking a HECM. Read Article

Income Replenishment With a Reverse Mortgage

This article explains how a HECM reverse mortgage can be tailored to the needs of a senior whose income is expected to plunmmet at some future time. Read Article

Perspectives on Down Payment Requirements

This article explains what the down payment is, where it can come from, why it is so important to lenders, and what the requirements are in today's markets. Read Article

Mortgage Concepts Home Buyers Should Know

Home purchasers sometimes get into trouble because they are not clued into the sequence of steps involved in financing their purchase. These are qualification, pre-approval, approval,lock and appraisal. Read Article

Tapping Your 401K to Buy a House Is Tempting But Risky

While the cost of meeting a down payment shortage by borrowing from a 401K is lower than the cost of mortgage insurance or a second mortgage, the risk is higher. Read Article

Purchasing a House With a HECM Reverse Mortgage

In using a HECM reverse mortgage to buy a house, the borrower should first select the combination of cash draw and mortgage insurance premium, and then the lender offering the best deal on the preferred combination. Read Article

Will We Have Another Financial Crisis? Are We Prepared For One?

We will have another financial crisis, and in its misguided attempt to eliminate “too big to fail”, Dodd/Frank removed or weakened the tools that were used to contain the last crisis. Read Article