#senior-homeowners

#senior-homeowners

I am not aware of any other states that have this kind of legislation, and this puts Ohio at the top for safeguarding our senior homeowners from foreclosures. While foreclosure on seniors is extremely rare, concerns raised by Ohioans illustrate the need for a clear standard, bill proponents added. House Bill 443 ensures seniors who meet the qualifications will not lose their homes due to tax foreclosure, while still preserving all existing tax collection and treasurer processes.

According to the proposal, the cost of the program would equal approximately 3% of Tennessee's annual state budget. It could be funded by the state's recurring surplus estimated at $1.5 billion to $2.5 billion per year. Mitchell asserted that Tennessee has the fiscal capacity to support the initiative without cutting existing services or raising taxes. The money is there. The question is priority, he said.

The companies' Reverse Mortgage Market Index (RMMI) rose from 486.69 in Q1 2025 to its highest level ever 502.47 in Q2 2025. The index has tracked reverse mortgage market opportunity since 2000 by analyzing and reporting on trends in senior home values and home equity levels. The increase in senior homeowners' wealth was largely attributable to an estimated 2.9% (or $474.8 billion) increase in home values among this age group, offset by a 0.9% (or $23 billion) increase in mortgage debt.

We are redefining how reverse mortgages are understood, moving the product from the margins into the mainstream as a flexible, forward-looking financial planning tool for homeowners 55 and up, Fleming said.