Reverse Mortgage for Purchase: Another Option for Seniors
Updated Oct. 9, 2013
Introducing the Reverse Mortgage for PurchaseIn 1989, the federal government began insuring the reverse mortgage or Home Equity Conversion Mortgage (HECM). Over the last 22 years, the reverse mortgage has helped hundreds of thousands of seniors 62 and over, to remain in their homes by giving them access to a...

Reverse Mortgage Lending Limit Extended
Updated Oct. 9, 2013
The U.S. Dept of Housing and Urban Development (HUD) has recently released Mortgagee Letter 11-29, which will keep the lending limit at $625,500 for Home Equity Conversion Mortgages (HECMs or reverse mortgages) through Dec. 31, 2011. This is great news for potential reverse mortgage borrowers with property...