Reverse Mortgages: FHA insures them! (LVTFan's Blog)

Pages I refer to often

Income Distribution in the US
How is our income distributed? Well, it is pretty concentrated. How concentrated? Take a look.
Progress and Poverty, by Henry George
Here are links to online editions of George's landmark book, Progress & Poverty, including audio and a number of abridgments -- the shortest is 30 words! I commend this book to your attention, if you are concerned about economic justice, poverty, sprawl, energy use, pollution, wages, housing affordability. Its observations will change how you approach all these problems. A mind-opening experience!
Wealth Concentration Tables from 2004 SCF: Bottom 90%, Next 9% and Top 1%
Aggregated data by net worth quantile, for various kinds of wealth. With calculations you won't find anywhere else!
Wealth Concentration Tables from 2004 SCF: 50-40-5-4-1
These tables show how concentrated the ownership of various kinds of assets are. With calculations you won't find anywhere else! This version is less aggregated: Bottom 50%, Next 40%, Next 5%, Next 4% and Top 1%.

Books I Value

Henry George: Progress and Poverty: An inquiry into the cause of industrial depressions and of increase of want with increase of wealth ... The Remedy
This is perhaps the most important book ever written on the subjects of poverty, political economy, how we might live together in a society dedicated to the ideals Americans claim to believe are self-evident. It will provide you new lenses through which to view many of our most serious problems and how we might go about solving them: poverty, sprawl, long commutes, despoilation of the environment, housing affordability, wealth concentration, income concentration, concentration of power, low wages, etc. Read it online, or in hardcopy.
Bob Drake's abridgement of Henry George's original: Progress and Poverty: Why There Are Recessions and Poverty Amid Plenty -- And What To Do About It!
This is a very readable thought-by-thought updating of Henry George's longer book, written in the language of a newsweekly. A fine way to get to know Henry George's ideas. Available online at progressandpoverty.org and http://www.henrygeorge.org/pcontents.htm

Where Else Might You Look?

Wealth and Want
The URL comes from the subtitle to Progress & Poverty -- and the goal is widely shared prosperity in the 21st century. How do we get there from here? A roadmap and a reference source.
Reforming the Property Tax for the Common Good
I'm a tax reform activist who seeks to promote fairness and reduce poverty. Let's start with the enabling legislation and state requirements for the property tax. There are opportunities for great good!
A blog about Stamford, Connecticut, and its opportunities for progress and prosperity for all
Bringing it home to one medium-sized city's day to day issues and opportunities
LVTFan's blog: Connecting the dots between our most serious problems and what I've come to believe is the solution we need to embrace.
I'm a tax reform activist who seeks to promote fairness and reduce poverty in America. Land Value Taxation seems to me to be our very best hope for these goals, and for reducing urban sprawl and its concomitants.

July 2023

Sun	Mon	Tue	Wed	Thu	Fri	Sat
						1
2	3	4	5	6	7	8
9	10	11	12	13	14	15
16	17	18	19	20	21	22
23	24	25	26	27	28	29
30	31

Reverse Mortgages: FHA insures them!

Marketplace: Aid for the 'home rich but cash poor'. Knecht -- or more importantly, the lender -- wouldn't have to worry about the value of the home decreasing and the mortgage going upside-down. That's because almost all reverse mortgages are insured by the Federal Housing Administration. With that kind of safety net, it's no wonder banks are still offering reverse mortgages.

I'd not previously been aware that the lenders on reverse mortgages are not taking the risk on these. I suppose I should have guessed that the risk would be socialized and the profits privatized.

Posted on February 02, 2009 at 03:42 PM in privatization | Permalink

Comments

You can follow this conversation by subscribing to the comment feed for this post.

The comments to this entry are closed.

LVTFan's Blog

Land Value Taxation will solve many of the 21st century's most serious social, economic and environmental problems, and promote justice, fairness and sustainability. We CAN have a world in which all can prosper.

Recent Posts

Search

Pages I refer to often

Pages

Categories

Books I Value

Where Else Might You Look?

Sites I enjoy

About

July 2023

Archives

Notes

February 02, 2009

Reverse Mortgages: FHA insures them!

Comments