The AARP Reverse Mortgage lawsuit filed against HUD on March 8, 2011 has apparently caused sufficient discomfort for the department that the new Commissioner, Robert Ryan, rescinded the controversial Mortgagee Letter 2008-38, as his first public action since taking his position as Acting FHA Commissioner. He signed Mortgagee Letter 2011-16 on April 5, 2011 which […]

Read the rest of this article

Free Reverse Mortgage Counseling is being offered by the National Council on Aging, (NCOA) through its’ Reverse Mortgage Counseling Services Network, (RMCS). According to Barbara Stucki, Vice President of Home Equity Initiatives for NCOA, they recognize that “many homeowners are struggling in this economy and with the looming budget cuts in senior services on Capitol […]

Read the rest of this article

HECM Counseling protocol has been updated by HUD to provide guidance to counseling agencies regarding how to establish their fees and when HECM counseling fees should be waived for certain borrowers. HUD states that counseling agencies can establish a fee for counseling if the cost is reasonable and customary, does not exceed a level commensurate […]

Read the rest of this article

FHA insured Reverse Mortgage Loans for New York. Get a NY reverse mortgage quote and compare all HECM reverse mortgage loans available to you. Access Tax-Free money from your New York home equity. Must be 62 years or older to qualify. Get free AARP reverse mortgage information and use the reverse mortgage calculator tool here […]

Read the rest of this article

A Reverse Mortgage Quote for California will show you how much Tax-Free money you can get from the home equity in your California home. You can get an approximate estimate by using an online reverse mortgage calculator. But use caution when you input the value of your home. Your loan amount is directly tied to […]

Read the rest of this article

The National Institute on Retirement Security released a report this month, stating that 84% of Americans have anxiety about retirement. Many think that the Nation’s retirement infrastructure is crumbling and the majority of those surveyed say that stock market volatility makes it impossible to predict retirement savings. The report was based on a survey of […]

Read the rest of this article

The collapse of the mortgage market led to Reverse Mortgage changes that impact consumer choices, according to a recent report from AARP’s Public Policy Institute. The AARP report points out, that while consumers have more product choices now, like the HECM Saver, reverse mortgage loans are complicated and generally more expensive than other types of […]

Read the rest of this article

Although a reverse mortgage loan does not require a borrower to income qualify for the loan, HUD may be faced with requiring borrowers to prove their ability to meet their future property tax obligations as well as homeowner’s insurance premiums. From the inception of the HECM reverse mortgage loan program, (insured by FHA and backed […]

Read the rest of this article