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Posts Tagged 'insurance'

Understanding Reverse Mortgage Insurance Premiums (Updated 2018)

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A federally-insured reverse mortgage comes with the benefit that you, the borrower, will receive loan payments as agreed upon by the terms of your loan, and will never owe more than your home is worth. Those benefits are guaranteed by the Federal Housing Administration through its Home Equity Conversion Mortgage program, which includes the vast majority of reverse mortgages out there....
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Reverse Mortgage Set-Aside (LESA) Offers Peace of Mind.

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New Safeguards for Reverse Mortgage Borrowers Offer Peace of Mind How a “LESA” is Giving New Peace of Mind to Reverse Mortgage Borrowers Take a Reverse Mortgage with New Peace of Mind Reverse mortgages have changed for the better. These mortgages, which allow people 62 and older to tap into their home equity in the form of a non-recourse loan,...
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How Tax and Insurance Defaults Will Soon Change Reverse Mortgages

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We just returned from the National Reverse Mortgage Lenders Association (NRMLA) annual meeting at which we were able to listen to several speakers from HUD who spoke about the reverse mortgage and some of the challenges they are having with the program.  Seems that they are very concerned with the high number of tax and insurance defaults from many borrowers.  The...
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