Mortgage2USA.com
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Reverse Mortgages
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The Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) authorized "Home Equity Conversion Mortgages" (HECM) in 1987. The program, also know as "Reverse Mortgages" has only recently become popular, with the majority of loans issued under the program initiated within the last 3 years. In 2006, Reverse Mortgages began being packaged into mortgage-backed securities bringing a much larger group of Issuing Lenders into the market.
The recent economic conditions have caused "Reverse Mortgages" to become increasingly popular since the Program provides the homeowner with funds in a lump sum or monthly payments that do not need to be repaid until the homeowner moves out of the home or passes away. There are many restrictions and qualifications that must be taken into consideration and you are invited to review details. Simply select the links above.
The following Professionals are involved in today's Mortgage Markets :
N e w F e a t u r e -
Fill out the New Worksheet to receive the Name and Contact Information for a Reverse Mortgage Specialist or Lender who can answer your questions or even help you get started. There is no obligation, no cost or fee and since you are sent the information, you initiate the contact at your convenience as your email , not your phone number, is used.
