Billions of dollars in fines paid by big banks, millions paid by the traders, the downfall of Lehman and Salomon, and finally the 2008 credit crunch. It seems that there is something wrong with finance. This is why the terms ‘greed’ and ‘finance’ are often used interchangeably. One person has come forward to defend finance as a subject and inform people about the benefits that it provides to the people. Robert Shiller is this man, and he is a professor at Yale.
There are many financial instruments that have been traded all around the world. Financial engineers have also created some products that provide benefit to the aging society. One such product is the reverse mortgage, and it allows the borrower to receive fixed monthly payments so that they can easily make ends meet.
A reverse mortgage in the US is only available for retired senior citizens. The house of the borrower is that collateral and this house could only be sold after the death of the borrower. This means that the aged person who has worked hard all their life can live their remaining days peacefully in their own house. Just like CDSs and ABSs are beneficial in reducing the risk of the bank, a reverse mortgage is beneficial for the aging society who wants some extra stream of fixed cash flow in order to make ends meet.
Longbridge Financial is a reverse mortgage company in Mahwah, NJ that is approved by the Federal Housing Administration (FHA). It operates in 46 states and is committed to providing financial peace of mind to the elder generation. It is a member of the NRMLA and is considered as the best reverse mortgage provider in New Jersey.
Longbridge Financial is also one of the fastest growing HECM providers in the US. In 2016 alone, the annual growth of Longbridge was 277.4% and was ranked 22nd in the list of ‘Top 100 HECM Originators’. For more information, you can call them at their toll-free number.
