What Advisors Need to Know About the New Reverse Mortgage Rules
Posted by William Byrnes on November 4, 2013
With the U.S. population aging and more boomers turning to reverse mortgages to fund their retirement, the U.S. Department of Housing and Urban Development has announced major changes to its Home Equity Conversion Mortgage program.
The changes, most of which became effective on Sept. 30, are designed to prevent borrowers from tapping into the entire value locked into their homes. Specifically, new limits have been placed on the amount that borrowers can take out during the first year.
Read Professor William Byrnes and Robert Bloink’s analysis of this issue by clicking to our Think Advisor’s article > ThinkAdvisor <
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