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Jack M. Guttentag is Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania. More

Recent Articles

Do HECMs Work For Owners of Expensive Homes?

If the owners of pricey homes can make good use of the funds available on a HECM, there is no reason not to because they retain their excess equity. Read Article

Home Buyers Lose a Useful Mortgage Option to Overzealous Regulation

This article laments the loss of prepayment penalties, which can be a useful option for mortgage borrowers with long time horizons. Read Article

How to Pay Off a 30-Year Mortgage in 15 Years -- Without Being Scammed

This article shows how to develop an extra payment plan that will shorten the term of a 30-year loan to 15 years, more or less. Read Article

Is Making Extra Mortgage Payments Better Than Refinancing?

This article explains how the refinance and the extra payment decisions are related, and how to deal with situations where both are live options. Read Article

Should Home-Sellers Pay the Settlement Costs of Buyers?

This article considers the implications for sellers and buyers of the seller agreeing to pay the buyer's settlement costs. Read Article

How to Unleash the HECM Reverse Mortgage Market - Part 2

This article explains why the existing HECM reverse mortgage market is a "gotcha" market, and how to convert it into a shoppers market. Read Article

How to Unleash the HECM Reverse Mortgage Market - Part 1

This article relates the fear, ignorance and distrust that permeate this market to a dysfunctional market structure that has none of the features of a shoppers market. Read Article

Rent or Buy? A Question That Never Seems to Go Away

This article compares the analytical approach to rent-versus-buy to the emotional approach. Read Article

Four Ways to Purchase a House With a Reverse Mortgage

This article assesses advantages and disadvantages of purchasing a house with fixed-rate as opposed to adjustable rate HECMs, and paying $1500 as opposed to $7500 in upfront mortgage insurance. Read Article