December 11, 2009 | Considering a Reverse Mortgage? Act Now Before FHA’s New Rules Go Into Effect January 1st, 2010

… dvance, with the average cost of an FHA appraisal of about $400. ..

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December 11, 2009 | Considering a Reverse Mortgage? Act Now Before FHA’s New Rules Go Into Effect January 1st, 2010

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    1. About 9.1 percent of FHA borrowers are in default, having missed at least three payments as of December 2009, a statistic that has gone up from 6.5 percent a year ago?which is a 40 percent increase in this statistic in one year.16 Although the ... 31 According to FHA Commissioner Stevens' recent announcement, on Jan. 20, 2010, FHA now seeks ?maximum flexibility? to establish separate ?areas? for purposes of review and termination under the Credit Watch initiative.32 The ...