What does this mean for you? A higher limit will accommodate higher home prices and allow for higher home equity access across the board for all eligible age groups going forward. Higher equity access means the HECM has become a more flexible tool for re
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Getting a Reverse Mortgage for a homeowner with an unrestricted approval versus a restricted approval due to credit problems, even some that are very minor, can often be challenging. The program has become much stricter regarding credit incidents since th
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How are mom and dad doing during the pandemic? Hopefully they are home and staying safe. It’s not like everybody isn’t stressed enough by the current situation. It is clearly affecting everyone. As for older people, one of the other less talked about si
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Most veterans are relegated out of the VA Loan Program by the marketplace for having lower credit scores and credit related issues. Many lenders shy away from VA borrowers with less than 620 credit scores and others have instituted underwriting overlays
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Low interest rates have, in one perspective, liberated older homeowners by giving them many choices to stay in their family homes with Jumbo Reverse Mortgages. Some of the choices may include paying off existing mortgages and other debt, adding liquidity
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Federal rules from Dodd Frank have made it much tougher for borrowers outside the traditional channels, such as Fannie Mae, Freddie Mac, and the government loan programs, to qualify for mortgages. There are some interesting products for the self-employed
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