hecm: FHA/HECM Reverse Mortgage Loan Limit Increased To $625,500 - 03/15/09 01:13 PM
It wasn't too long ago that the lending limit on the reverse mortgage (HECM) was increased to one national limit of $417,000 instead of lower limits that varied by county. The increase was part of HR3221, the FHA Modernization Act, passed in July, 2008. It wasn't until November, 2008, that HUD … (0 comments)
hecm: Here we go again! HECM (reverse mortgage) limits will probably increase to $625,500! - 02/15/09 01:47 PM
It wasn't too long ago that the lending limit on the reverse mortgage (HECM) was increased to one national limit of $417,000 instead of lower limits that varied by county. The increase was part of HR3221, the FHA Modernization Act, passed in July, 2008. It wasn't until November, 2008, that HUD … (0 comments)
hecm: New Reverse Mortgage Program -- HECM for Purchase - 01/05/09 05:28 PM
A HECM for Purchase is the FHA insured reverse mortgage that allows seniors, age 62 or older, to purchase a new principal residence using loan proceeds from the reverse mortgage. This is a new program that became effective January 1, 2009.
Previously, if a senior wanted to use a reverse mortgage … (9 comments)
hecm: More Questions about the new HECM Limits - 08/07/08 12:17 PM
I got an email asking me about the HECM limits and I thought my response might be helpful to some of you:
Sylvia - Do you have any idea when the national loan max is going to be applied to Reverses? Also, do you have any info on the applicable percentage … (2 comments)
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It wasn't too long ago that the lending limit on the reverse mortgage (HECM) was increased to one national limit of $417,000 instead of lower limits that varied by county. The increase was part of HR3221, the FHA Modernization Act, passed in July, 2008. It wasn't until November, 2008, that HUD … (0 comments)
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