HECM professionals to gather in Texas for Reverse Mortgage Day

Past State of the Union Guests: Where Are They Now? Trump delivers the second State of the Union Address of his presidency. This year’s guests come from all different walks of life, and each has an incredible story to tell. No matter their background,

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Towards the end of his testimony, Story spoke about the recent changes to FHA’s reverse mortgage program. Some of the other choices for addressing the HECM shortfall include Congress appropriating.

A reverse mortgage is a mortgage loan, usually secured by a residential property, that enables the borrower to access the unencumbered value of the property. The loans are typically promoted to older homeowners and typically do not require monthly mortgage payments. Borrowers are still responsible for property taxes and homeowner’s insurance.

The state of Texas was decidedly late to the Home Equity Conversion Mortgage game, but at least by one metric, the patience and deliberation appears to have paid off. The Lone Star State’s Department of Savings & Mortgage Lending found no enforcement actions against reverse mortgage originators in the state over the last 10 years, [.]

“They’re not sitting around waiting for the phone to ring, they’re out there building relationships, building their value, and building the value of the hecm. professional day asking, I wonder if.

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Reverse mortgage counseling assists seniors who seek to convert equity in their homes into income that can be used to pay for home improvements, medical costs, living expenses, or other expenses. fha insures a reverse mortgage known as a fha home equity Conversion Mortgage (HECM).

“So, AAG is introducing a new jumbo reverse mortgage loan so you can now access as much as four million dollars in cash tax-free from your home’s equity.” Even after only one day of being broadcast ..