From housingwire.com
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Reverse Mortgages
Baby boomer's are closing in on retirement and many haven't saved nearly enough. One bright spot for many is the home equity they've built up. Reverse mortgages are growing in popularity as a tool that let's senior homeowners tap their... [more]
Baby boomer's are closing in on retirement and many haven't saved nearly enough. One bright spot for many is the home equity they've built up. Reverse mortgages are growing in popularity as a tool that let's senior homeowners tap their home equity for living expenses. This Wiki discusses the good, the bad and the ugly sides of reverse mortgages.
The Department of Housing and Urban Development (HUD)’s Mortgagee Review Board proposed the agency revoke the Federal Housing Administration (FHA) approval of a Hawaii-based reverse mortgage lender.
The board is proposing HUD permanently withdraw the HUD and FHA approval of Financial Mortgage USA, a Honolulu-based home equity conversion mortgage (HECM) lender, because the company allegedly failed [...]
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