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Experts largely agree that the recent changes made to the Federal Housing Administration-insured reverse mortgage program should be considered positive for those considering, or about to enter into the HECM process. The modifications made to the program will help protect both the federal government and borrowers, and should also offer a better experience for consumers. Experts have suggested that the HECM changes were necessary to address retirees’ growing needs. Many say that the updates will aid in borrowers feeling better prepared and safer in the face of possible future financial hardships. More here
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