The change has begun within the reverse mortgage industry with the recent implementation of new principal limits imposed by HUD. One of the problems is the lack of sufficient notice to lenders and borrowers of the ten percent reduction. Even though there had been rumors of a principal reduction, the final notification of this change [...]
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Reverse Mortgage Disadvantages and Advantages
Reverse Mortgage Disadvantages and Advantages You have heard about the good and the bad of the reverse mortgage, or the Home Equity Conversion Mortgage (HECM) program. But what is the real truth behind the reverse mortgage program which was designed to assist mature borrowers, 62 and older, with staying in their home while using the [...]
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