The Reverse Mortgage Industry is facing an immediate sea of troubles. It is like a canoe on a river that is trying to steer an erratic path in an effort to.
See the original post:
The HUD HECM Reverse Mortgage: Policy Reigns Over Reason | Reverse …
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Tags: congressman, erratic path, housing, HUD, industry, reverse, Reverse Mortgage, secretary, Shaun Donovan, treasury, urban, urban development
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When the authors write (page 16 column 1), ?Caution should be exercised, because they are not magical solutions for cash-strapped seniors, and HUD reports that more than half of HECM borrowers terminate the loan within seven years. ... According to a 2007 AARP study, Reverse mortgages have over a 93% customer satisfaction rating. The study further indicated that a reverse mortgage is a good tool that gives seniors the ability to pay off an existing loan, make home repairs ...