Older homeowners who are considering a reverse mortgage can now get more help in the decision-making process. The Federal Housing Administration, which insures reverse mortgages, last month instituted new standards for the counselors who, according to federal law, must meet with prospective borrowers before a loan can be approved.http://www.nytimes.com/2009/12/06/realestate/06mort.html?_r=1&ref=realestate
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1 comments:
This is definitely good news for retirees. I hope that qualifications are not that tough anymore.
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