Qualified borrowers must have an FHA Reverse Mortgage on an Illinois property and must have “experienced a qualifying hardship”
The partnership will expand United's presence in the HECM for Purchase space
Renovation loans can open up a whole new cache of properties to potential homebuyers. Here’s how to tap into the market.
Findings also included those who sell reverse reported that the best thing about offering the product was the considerable growth potential with the aging baby boomer population.
The new guidance for reverse mortgages, which requires that lenders consider both a borrower’s willingness and capacity to pay his or her loan obligations, was delayed.
While reverse mortgages are only available to a select group of consumers, the product still makes up a large portion of complaints received by the Consumer Financial Protection Bureau.
The FHA’s new budget reveals that the Obama administration is starting to see reverse mortgages as viable again.
Home Equity Conversion Mortgages started off the fourth quarter of 2014 strong rising almost 30%.