Reverse Mortgage Rules May Tighten

Experts are suggesting that many older Americans should consider their home’s value as a way to help their finances during retirement years. Reverse mortgages are expected to become a vital part of many financial retirement plans over the coming years, though past and future changes to the plan may make the process slightly more difficult. The mortgage plan that allows homeowners, age 62 and up, to tap into their home equity might become more restrictive. The FHA is considering conducting financial assessments on borrowers, including revision of credit scores, to ensure the individual can afford to pay their homeowners insurance and property taxes. More here

This entry was posted in Healthy Living. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s