#senior-homeowners

#senior-homeowners

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.

Mazonas has worked in the reverse mortgage industry for 35 years, and in a prior role with Transamerica HomeFirst, he initiated the first housing counseling program in partnership with the San Mateo County Area Office on Aging. According to his LinkedIn account, Mazonas created and managed the first successful jumbo private reverse mortgage company operating in 17 states [and] created the first patented lifetime reverse mortgage products and developed the methods to securitize reverse mortgages as the first longevity valued asset class.

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.