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$0 FEE Reverse Mortgages: All-Time Low Rates & No Closing Cost Options - Request Quote Today! Until last year, there was pretty much one reverse mortgage in town. Whether fixed rate or adjustable rate, almost all reverse mortgages fell under the Home Equity Conversion Mortgage (HECM or “Heck-um”) “Standard” program, insured by the Federal Housing Administration (FHA). Then along came... Read Full Article
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The vast majority of reverse mortgages fall under the Home Equity Conversion Mortgage Program and are insured by the Federal Housing Administration. Under that program, the U.S. Department of Housing and Urban Development can make changes that have the potential to impact lenders and borrowers. Market shifts and other factors can also lead to program and loan changes. Here’s what... Read Full Article
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BREAKING: April 27, 2015 – Reverse Mortgage Financial Assessment Begins! Learn More Here UPDATE! Financial assessment has been postponed until 3rd quarter 2012 If you have any questions, please contact us immediately as time is very short before the requirements will be in effect. Toll Free (800) 565-1722 or request quote here » In an effort to protect reverse mortgage... Read Full Article
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As they age, many seniors gravitate toward warmer climates, family, or retirement-friendly areas, but dwindling income may make it difficult to relocate. The circumstances are ideal for considering a Reverse Mortgage for Purchase loan. This program allows people aged 62 or older to buy a house that they will use as their primary residence, using the proceeds from a Reverse... Read Full Article
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Here are some statements I received just today from a few different borrowers by email and on the phone. "I talked to XYZ reverse mortgage lender and he says that if everyone else has me getting less than $8,000 dollars and you have me at $11,000, then you are doing something wrong". Another gem, "I was talking to XYZ, he... Read Full Article
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In Mortgagee Letter 11029 HUD announced that they will extend the current reverse mortgage Loan Limit of $625,500 on the Home Equity Conversion Mortgages (HECM or "Heck-um") from its current date of expiration of September 30, 2011 to December 31, 2011. The letter states that HUD does leave an opening for the fact that legislation may be enacted to extend... Read Full Article
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NEWS: FHA Now Allows Non-Borrowing Spouses to be Protected - Click Here! Dear All Reverse, My husband qualifies but I am under 62 and unable to go on the reverse mortgage with him. (Age 55) I'm told that in order for my husband to be eligible for a reverse mortgage my name would have to be removed from the deed... Read Full Article
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Developing Story on Wells Fargo Reverse Mortgage: On August 3, AARP filed another lawsuit, as a purported class action, against Wells Fargo and Fannie Mae, challenging their HECM loan foreclosure practices. Under prior HECM rules (Mortgagee Letter 08-38, December 5, 2008), lenders required heirs of borrowers to pay off the full loan balance upon maturity of HECMs when the loan... Read Full Article
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All Reverse Mortgage® is an Award-Winning HUD Approved Direct Lender. Compare our NEW 3.99% (5.72%APR) Fixed Rate and Save Thousands! - Request Free Quote! - Reverse Mortgage interest rates available for some reverse mortgage loans are the best they have ever been on the Home Equity Conversion Mortgages (HECM or "Heck-um"). The fixed rates just announced today for the... Read Full Article
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Wells Fargo News 06/16/2011: Wells Fargo Closes Reverse Mortgage Lending » We have a problem. My wife and I started a reverse mortgage with Wells Fargo and after almost 65 days, we still didn't have approval. We called our agent and when he does take the call or calls us back - which is rare - he says everything is... Read Full Article
This material has not been reviewed, approved, or issued by HUD, FHA, or any government agency. All Reverse Mortgage, Inc. is an independent company and is not affiliated with, acting on behalf of, or endorsed by HUD/FHA or any government agency. This content is for educational purposes and is not tax advice. Reverse mortgage programs may not be available in all states.
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