Reverse Mortgage Blog

More Money in Reverse Loans

December 12, 2019

Over the last several years there have been many changes to the FHA HECM loan program. Originally it was only a Line-of-Credit that changed monthly that was awful, then eventually to one that only changed once a year and then Fixed rate options became available to seniors. The latest change will go into effect in January 2020 and will increase the funds to seniors in their new loan application. https://www.reverseloanconsultant.com/

Lorraine Jones

Tags: SENIORS, CAREGIVINGEXPENSES, FINANCIALADVISORS, CPA, REVERSELOANCALCULATOR

This material is not provided by, nor was it approved by the Department of Housing & Urban Development (HUD) or by the Federal Housing Administration (FHA). It is not intended to be a substitute for legal, tax or financial advice. Consult with a qualified attorney, accountant or financial advisor for additional legal or tax advice.

*There are some circumstances that will cause the loan to mature and the balance to become due and payable. The borrower(s) must continue to pay for property taxes and insurance and maintain the property to meet HUD standards or risk default. Credit is subject to age, minimum income guidelines, credit history, and property qualifications. Program rates, fees, terms and conditions are not available in all states and subject to change.

Lorraine Jones

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More Money in Reverse Loans

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