Reverse Mortgage Financial Planning Research and Resources: Bibliography

Active Reverse Mortgage Financial Planning Blogs

Davison, Tom. ToolsForRetirementPlanning.com  This site.

Guttentag, Jack. The Mortgage Professor  Consumer oriented. Stimulates competition through price shopping. May receive payment for referrals to mortgage companies.

Pfau, Wade. Retirement Researcher and Forbes.com  Numerous research pieces on reverse mortgages and other retirement planning topics.


Pfau, Wade. Calculating Reverse Mortgages

National Reverse Mortgage Lenders Association. Reverse Mortgage Calculator

Reverse Mortgage Synergy with Investments Increase Cashflow

Neuwirth, Peter, Barry H. Sacks, and Stephen R. Sacks. 2017. “Integrating Home Equity and Retirement Saving through the Rule of 30“. Journal of Financial Planning, 30(10): 52-62.

Pfau, Wade. 2016. “Incorporating Home Equity into a Retirement Income Strategy.” Journal of Financial Planning 29 (4): 41–49.

Pfeiffer, Shaun, John Salter, and Harold Evensky. 2013. “Increasing the Sustainable Withdrawal Rate Using the Standby Reverse Mortgage.” Journal of Financial Planning 26(12): 55-62.

Pfeiffer, Shaun, C. Angus Schaal, and John Salter. 2014. “HECM Reverse Mortgages: Now or Last Resort?Journal of Financial Planning 27(5): 44-51.

Sacks, Barry H., and Stephen R. Sacks. 2012. “Reversing the Conventional Wisdom: Using Home Equity to Supplement Retirement Income.” Journal of Financial Planning 25(2): 43-52.

Sacks, Barry, and Mary Jo Lafaye. 2016. “Case Study.” In Giordano, Shelley. 2016 “An Alternative Asset to Buffer Sequence-of-Return Risk in Retirement.The Retirement Management Journal, 6(1): 17-26.

Salter, John, Shaun Pfeiffer, and Harold Evensky. 2012. “Standby Reverse Mortgages: A Risk Management Tool for Retirement Distributions.” Journal of Financial Planning 25(8): 40–48.

Tomlinson, Joe. 2014. “How Reverse Mortgages Improve Sustainable Withdrawal Rates.” Advisor Perspectives March 18.

Tomlinson, Joe. 2015. “New Research: Reverse Mortgages, SPIAs and Retirement Income.” Advisor Perspectives April 14.

Tomlinson, Joe, Shaun Pfeiffer and John Salter. 2016. “Reverse Mortgages, Annuities and Investments: Sorting Out the Options to Generate Sustainable Retirement Income.” Journal of Personal Finance, 15(1): 27 – 36.

Wagner, Gerald C. 2013. “The 6.0 Percent Rule.” Journal of Financial Planning 26(12): 46 – 54. A 2014 update.

Warshawsky, Mark J. 2017 “To Enhance Lifetime Retirement Security, Use Reverse Mortgages or Immediate Annuities?” Journal of Financial Planning 30(2): 52-60.

Reverse Mortgages in Financial Planning – General

Davidoff, Thomas. 2015 “Can “High Costs” Justify Weak Demand for the Home Equity Conversion Mortgage?” Review of Financial Studies, Aug. 28(8): 2364-2398.

Davison, Tom. 2014. “Strategic Uses of Reverse Mortgages for Affluent Clients.” ToolsforRetirementPlanning.com April 16.

Davison, Tom. 2014 “Reverse Mortgage Funds Social Security Delay.” ToolsforRetirementPlanning.com March 3.

Davison, Tom, and Turner, Keith. 2015 “The Reverse Mortgage: A Strategic Lifetime Income Planning Resource.” The Journal of Retirement, 3(2): 61-79.

Hopkins, Jamie Patrick. 2017. The Effect of Low Reverse Mortgage Literacy on Usage of Home Equity in Retirement Income Plans Journal of Financial Planning, 30(5): 44-52.

Johnson, David W. and Zamira S. Simkins. 2014. “Retirement Trends, Current Monetary Policy, and the Reverse Mortgage Market.” Journal of Financial Planning, 27(3): 52 – 59. Good explanation of tenure payments.

Giordano, Shelley. 2016 “An Alternative Asset to Buffer Sequence-of-Return Risk in Retirement.The Retirement Management Journal, 6(1): 17-26.

Kitces, Michael. 2014. “Taking a Fresh Look at Reverse Mortgages in Retirement.” AICPA Advanced Personal Financial Planning Conference.  January 21.

Kitces, Michael. 2013. “Is a Reverse Mortgage Better Than Keeping a Traditional Amortizing Mortgage in Retirement?” Nerd’s Eye View. September 18.

Kitces, Michael. 2011. “A Fresh Look at the Reverse Mortgage.” The Kitces Report. October.

Kitces, Michael. 2011. “Evaluating Reverse Mortgage Strategies.” The Kitces Report. November.

Pepe, Stephen R. 2017. “The Home Equity Conversion Mortgage as a Long-Term Care Insurance Alternative for Financing In-Home Care.” Journal of Financial Service Professionals. July. Issue 4 (53-66).

Pfau, Wade, Joe Tomlison, Steve Vernon. 2017. “Optimizing Retirement Income by Integrating Retirement Plans, IRAs, and Home Equity: A Framework for Evaluating Retirement Income Decisions.” Stanford Center on Longevity, November.

Pfau, Wade D. 2015. “Advisors Need a Fresh Look at Reverse Mortgages.” Advisor Perspectives December 1.

Sacks, Barry H., Mary Jo Lafaye, Stephen R. Sacks. 2017. “Using Housing Wealth to Facilitate Asset Division in “Silver Divorce” 3 Scenarious Show How Reverse Mortgages Can Simplify Divorce for Seniors.” Divorce Financial Analyst Journal. Forthcoming.

West, Thomas C. and Steven A Starnes. 2018 “Appropriate Investment Strategies During a Period of Care.” Journal of Financial Planning, January. 31(1): 37-39. “An HECM line of credit can be a good source of liquidity during a bear market and can meaningfully increase sustainable withdrawal rates, especially when implemented early in retirement…”

Books and General References

Giordano, Shelley. 2015. “What’s the Deal With Reverse Mortgages?” People Tested Media, Pennington, NJ. General overview book. Available at amazon.com.

Giordano, Shelley. 2017. “Understanding Reverse Mortgages: An Interview with Shelley Giordano” Society of Actuaries Pension Section News. February. pp 55-60.

Huebler, Robert. 2015. “Robert Merton and the Promise of Reverse Mortgages and the Peril of Target Date Funds.” Posted Nov. 2, 2015.

Hultquist, Dan. “Understanding Reverse 2018. Answers to Common Questions – Simplifying the New Reverse Mortgage.” General overview book, good choice for homeowners who want to know more, Authoritative, clear &, concise. Available at amazon.com.

Munnell, Alicia H. and Steven A. Sass. 2014. “The Government’s Redesigned Reverse Mortgage Program.” Center for Retirement Research at Boston College. January, Number 14-1.

Pfau, Wade. 2016. “Reverse Mortgages: How to use Reverse Mortgages to Secure Your Retirement (The Retirement Researcher’s Guide Series) (Volume 1)” Retirement Researcher Media. Overview, with in-depth financial planning analysis. Available at amazon.com

Sass, Steven, Alicia H. Munnell, and Andrew Eschtruth. 2014. “A Retirement Planning Guide. Using Your House for Income in Retirement.” Center for Retirement Research at Boston College. September. Homeowner friendly.

Reverse Mortgage Line of Credit

Davison, Tom. 2014. “Reverse Mortgages: How Large Will A Line of Credit Be?”  ToolsforRetirementPlanning.com

Pfau, Wade. 2014. “The Hidden Value of a Reverse Mortgage Standby Line of Credit.” Advisor Perspectives Dec 9.

Pfau, Wade D. 2016. “Understanding the Line of Credit Growth for a Reverse Mortgage.” Journal of Financial Planning March. 37-39.

Wagner, Gerald. 2014. “Consider a HECM Reverse Mortgage Now”, in “Apply for a HECM Reverse Mortgage Now.” ToolsforRetirementPlanning.com

Income Taxes

Davison, Tom.  2017. Tax Deductions and Reverse Mortgages: April 2017 UpdateToolsforRetirementPlanning.com.  Annual tax deductions and planning.

Kitces, Michael. 2017. The Taxation of Reverse Mortgage Loan Proceeds and Interest Payments Nerd’s Eye View blog.

Sacks, Barry H., Nicholas Maningas, Sr., Stephen R Sacks, and Francis Vitagliano. 2016. “Recovering a Lost Deduction.” Journal of Taxation, 124(4): 157-169. See Recovering a Lost Tax Deduction: April 2016 Update for the article and supporting material. Discusses deduction of interest built up during the loan at loan’s end or refinance.

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