Questions? Let's Talk: 877.762.4375

Reverse Mortgage Rules Reported To Change

Reverse Mortgage Rules Reported To Change

| Sep 12, 2013 | Housing Market

According to new data, reverse mortgage rules are getting ready to change, making the process slightly more difficult for some. Rules governing Home Equity Conversion Mortgages (HECMs) are expected to get tighter starting in October. Loan fees will be larger than before while Loan amounts will be smaller. Experts say this will be a positive change for seniors making (HECMs) a safer option. The director of the National Council on Aging’s reverse mortgage counseling services network, Amy Ford said, “It really presents a shift toward utilizing the HECM as a long-term financial planning tool, rather than something for crisis management.” More here

Categories

"Story Time" Newsletters

  • Warmup with These Popular Colorado January Events

    Read More
  • December 2023 Guide To Holiday Light Shows, Santa Visits, Seasonal Food & Drink, Parades, And More!

    Read More
  • PIONEERING WOMEN OF BOULDER, CO

    Read More
  • Fantastic Fall Fun Events in Colorado

    Read More
  • CARNEGIE LIBRARIES: The Future Made Bright

    Read More
  • Celebrate Colorado Peaches and their History at these 3 Festivals!

    Read More
  • Colorado Wine – Rooted in History

    Read More
  • 13,000-year-old stone tool cache still on exhibit at CU-Boulder

    Read More
  • The Original Coloradans: Colorado’s Native American History

    Read More
  • 12 Cool & Unusual Things to Do this Summer in Colorado

    Read More

Get a Quote

Will be happy to respond