National Reverse Mortgage Lenders Association (NRMLA) annual meeting in October 2011 provided some new information for reverse mortgage lenders.
Archive for October 2011
The HECM Saver Program reiterates HUD-approved guidelines by which Reverse Mortgage lenders can assess borrowers’ capabilities to live up to the terms of the mortgage. Borrowers can make the most of a reverse mortgage by following consumer advisors who provide tips and general information for clients considering a reverse mortgage. .
The Better Business Bureau urges senior citizens who are considering signing a contract for a Reverse Mortgage to carefully review the lending institution’s reputation as well as all contract conditions before signing.
For many seniors who are living on a tight budget, taking our a reverse mortage makes financial sense.
Marion Kevillars*, 69
Throughout my married life I was the financial manager of our family. Not that there was a lot to manage, but my husband respected my conservative outlook and respected my judgement when it came to our finances.
We never were able to put away enough money to create a safe savings plan but I [...]