Well it looks like the national lending limits are being talked about be adjusted down.  They were scheduled to remain at $625,000 until the end of the calendar year, but from the looks of it they are potenially going to be reduced back to $417,000 at the start of the FHA's fiscal year in October.  This change will only affect properties that over the $417,000 value. What will happen is the consumer will recieve less money, but will have a higer retained value in their property.

 
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2 Comments on Lending Limits being Adjusted for Revere Mortgages - New Haven, CT

JUL
27
325,352 Points Outside Blog

If that happens, the reverse mortgage program will have few users in our suburban Maryland market.

11:59am • #1
Outside Blog

Roy, I agree!  This can affect areas that still have high home values.

1:19pm • #2

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Dennis Chanski

Hebron, CT

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Avision Mortgage

Address: 25 Kristem Lane, Hebron, CT, 06248

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