Archive for April 2013

FTC Complaint Line for Mortgage Issues

Seniors who are considering taking out a HECM (Home Equity Conversion Mortgage) loan can now review any consumer complaints which were filed that relate to these loans. The Federal Trade Commission (FTC) maintains an updated list of consumer complaints about loan products, including the Reverse Mortgage. Reverse Mortgage complaints comprised only 272 of more than [...]

New Budget and HECM Loans

On April 10th President Barak Obama submitted his new budget to Congress. Officials of the Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA), Home Equity Conversion Mortgage (HECM) industry professionals and seniors who are considering obtaining a HECM loan are among those who are closely monitoring the budget developments.  The [...]

HECM Loan Considerations

For retirees who find themselves short on cash during their senior years, a Reverse Mortgage can provide a vital source of income that may make the difference between struggling to make basic payments and living a comfortable life. There are many benefits to a Reverse Mortgage, also called a Home Equity Conversion Mortgage (HECM) loan. [...]