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If a senior aged 62 or older has been "thinking" about doing a Reverse loan but their fear has stalled them like a "deer in a car's headlights", they may want to know that effective this October, HUD will be more...
If a senior aged 62 or older has been "thinking" about doing a Reverse loan but their fear has stalled them like a "deer in a car's headlights", they may want to know that effective this October, HUD will be reducing the Lending Limit from $625,250 down to $417,000 which would mean they would receive less money. They really should take advantage of the HUD counseling about the FHA loan and then make a decision if they want to do it or not before it's too late and they lose out.
This year has seen many changes in the Reverse mortgage industry due to the economy & the loss of equity for many homeowners. Some large lenders have exited but the need for Reverse loans remains very high more...
This year has seen many changes in the Reverse mortgage industry due to the economy & the loss of equity for many homeowners. Some large lenders have exited but the need for Reverse loans remains very high as the Boomer generation moves into their senior years with less retirement funds to sustain their lifestyles. HUD will be reducing the current lending limit from $625,500 to $417,000 in October & this means less money to a senior applying for the loan, so it's best to do it now & not wait.
The best method to learn about Reverse loans, is by doing the HUD approved counseling. It takes about an hour on the telephone & is very helpful, plus as of this time...it's "free" Call and set up an more...
The best method to learn about Reverse loans, is by doing the HUD approved counseling. It takes about an hour on the telephone & is very helpful, plus as of this time...it's "free" Call and set up an appointment by calling: 1. Green Path 888-776-6735 2. Creditability 866-616-3716 3. Money Management Int'l 877-908-2227