Reverse Mortgage 2020 – Reverse Mortgage Guide for 2020
The landscape for reverse mortgages in 2020 is almost as good as it’s ever been. There’s new reverse mortgage products and interest rates are as low as ever
Category: Reverse Mortgage Loan Advisors
Reverse Mortgage Loan Advisors
Reverse Mortgage Loan Advisors was created to serve as an info portal about Reverse Loans. Our intent is to give you the truth. Yes, this product is not for everybody. We’ll of course highlight the great part of this program, but we’ll also make note of the not so perfect part of Reverse Mortgage Loans.
This program has evolved over the years. As a result, this reverse loan is now better than ever.
Due to some former short comings, there were a few key changes (the short version):
- 1988 – Became an FHA insured loan product.
- In recent years, a fixed option became available along with the line of credit option.
- In early 2014, FHA placed limitations on disbursements to help ensure the money lasts longer.
- Furthermore, Spouses that were not of age became protected in late 2014.
- A financial assessment was adopted to ensure we provide this loan only to homeowners that will be able to afford their taxes and insurance.
- Finally, the line of credit option adopted a better lifetime cap on the interest rate ceiling.
Contact Reverse Mortgage Loan Advisors @ Info@ReverseMortgageLoanAdvisors.com
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