As 2017 is drawing to a close, homeowners aged 62 and above may be able to draw more from their home equity. They were $121 billion in home equity richer during the third quarter of 2017 per Reverse Mortgage Market Index (RMMI) by the National Reverse Mortgage Lenders Association and Read more
FHA Submits 2017 Annual Report, Updates on MMI Fund and More
“Our duty is clear - we must make certain FHA remains financially viable so future generations can build wealth and climb the economic ladder of success,” Dr. Ben Carson, secretary of the HUD, said in a public statement accompanying the FHA’s annual report to Congress for 2017.The Federal Read more
Taking out a Reverse Mortgage? You Might Want to Read CFPB’s Warning.
The Consumer Financial Protection Bureau (CFPB) gave a warning to consumers aged 62 and older who are considering a reverse mortgage to delay dipping into their Social Security benefits.In a 26-page issue brief dated August 2017, the Bureau determined that: (i) the costs of using a reverse Read more
