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Reverse Mortgage Qualification is About to Become Harder
September 3, 2013
It’s not news that the government mortgage giants Fannie Mae, Freddie Mac and the FHA suffered greatly as a result of the financial meltdown affectionately referred to as the Great Recession. Delinquent loans, foreclosures and bank shutdowns were a daily occurrence. And even though it appears we’re way past the dark days, lenders as well […]
FHA to Eliminate Popular Reverse Mortgage Option
February 8, 2013
The Federal Housing Administration (FHA) will eliminate the popular Fixed Rate Standard reverse mortgage option for all applications with case numbers assigned on or after April 1, 2013. The move by FHA comes after an analysis of FHA’s 2012 finances, which revealed it was more than $16 billion in the red.