Reverse Mortgage Loan Limits to Increase in 2018 The Federal Housing Administration (FHA) announced Reverse Mortgage Loan Limits will increase in 2018. This is significant news since lending limits have remained stagnant for several years. The maximum claim amount will now rise to $726,525, up from $636,150…
ReVisions Resources posted this article of mine on their blog this morning. ReVision Resources is dedicated to helping seniors by connecting them with ideas and resources to stay independent. A home remodel can arise out of need or desire – either way, figuring out how to pay for…
Financial assessment will become an integral part of the requirements for reverse mortgages in the future, according to a NY Times report Friday. This follows a change in April that suspended the standard fixed Home Equity Conversion Mortgage (HECM). Both of these changes were made to ensure the…
Procedural change will allow HUD to be more responsive to changes necessary to keep HECM reverse mortgage program healthy, passed by unanimous consent in the House today. The changes that FHA is considering to improve the health and performance of the HECM program and Mutual Mortgage Insurance Fund…