HUD Makes Reverse Mortgages a Little Less Attractive

HUD Makes Reverse Mortgages a Little Less Attractive The Department of Housing and Urban Development (HUD) has announced changes to the federal reverse mortgage program. Citing the need to put the program on better financial footing, HUD will raise reverse mortgage fees for some borrowers and lower the amount homeowners can borrow.

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Proprietary reverse. reverse mortgage originators and counseling participants. While the Department of Housing and Urban Development (HUD) tracks home equity conversion Mortgage activity month to.

Citing the need to put the program on better financial footing, HUD will raise reverse mortgage fees for some borrowers and lower the amount homeowners can borrow. A reverse mortgage allows a homeowner who is at least 62 years old to use the equity in his or her home to obtain a loan that does not have to be repaid until the homeowner moves, sells, or dies.

HUD makes reverse mortgages less attractive. Articles, Elder Law Articles; The Department of Housing and Urban Development (HUD) has made changes to the federal reverse mortgage program. Citing the need to put the program on better financial footing, HUD has raised reverse mortgage fees for some.

“When I’m talking to a potential borrower and I find out that they’ve got a condo, I say a little. a reverse mortgage on a condo was a much simpler process. In 2016, Congress passed a bill that.

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HUD Makes Reverse Mortgages A Little Less Attractive Articles , Business Law , Civil Litigation , Estate Planning , News and Media , Real Estate Law By Gosselin Law December 3, 2017 2 Comments The Department of Housing and Urban Development (HUD) has announced changes to the federal reverse mortgage program.

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a little more crafty in your marketing approach.” While he admitted that the “ruthless” strategy – taking out a reverse mortgage line of credit and only cashing out when the available funds were worth.

Citing the need to put the program on better financial footing, HUD will raise reverse mortgage fees for some borrowers and lower the amount homeowners can borrow. A reverse mortgage allows a homeowner who is at least 62 years old to use the equity in his or her home to obtain a loan that does not have to be repaid until the homeowner moves, sells, or dies.

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