Condo Communities Can Look to Reverse Mortgages and FHA loans again Once Regulations are Adopted The most relevant provision of the changes will emulate the FHFA’s rules regarding the transfer fees for FHA mortgages including reverse mortgages. In July 2015 FHA began refusing to approve condominiums in higher…
A good summary of the 9 ways to use a reverse mortgage was published by Mary Beth Franklin – in Investment News June 2016. Investment News is a leading reference source for Financial Planners. Titled “9 surprising ways to use a reverse mortgage” is an excellent summary of…
FHA will be accommodating younger spouses under the age of 62 this August. Situations where a couple would benefit from a reverse mortgage but one spouse does not happen to be 62 can now be accommodated and allow the non-borrowing spouse to stay in the home, even if…
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…
Can Help Retirees Keep Investments Until Right Time to Sell No longer viewed as a last resort, a reverse mortgage is an important financial tool that can be used as a strategic piece of your financial plan. A reverse mortgage can be used to avoid selling depressed investments…
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…