Reverse Mortgage Borrowers are about to see some major changes with a possible elimination of the lump sum payout option.  The House of Representatives just passed a Bill (REVERSE MORTGAGE STABILIZATION ACT OF 2013) which allows HUD to make some major changes to the Home Equity Conversion Mortgage (HECM or “Heck-um”) which is better known as the government-insured reverse mortgage. HUD was...
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