Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Future Regulations Are Coming for Reverse Mortgages
While not yet a reality, the changes that will very soon be enacted by the Department of Housing and Urban Development might affect who will qualify for a reverse mortgage in the future. The main focus of these changes is making sure that those who apply for a reverse mortgage have enough income to continue paying their current financial obligations--such as your homeowners insurance property taxes--and/or living expenses.
How will these changes directly affect senior homeowners looking into a reverse mortgage?
In the past, the inability to pay your homeowners insurance and property taxes have led to foreclosures or evictions. When these changes come into play, however, a new form of financial assessment will be added to the already established reverse mortgage qualifications, which include 62 years of age and older, live in your primary residence and have enough equity in your home. 
One of the big barriers to homeowners seeking a reverse mortgage will be borrowers with delinquent credit, who may not longer qualify under the new set of parameters. The reasons behind seniors' inability to pay financial obligations aren't clear as the previous guidelines did not take into consideration income or credit requirements.
The most important safeguard in place still continues to ... more

__________________________________________________
Are you on The Rain? Grow Your Network!