Search Results for: hecm

Home Equity Conversion Mortgage (HECM) Saver

HECM Saver is a new Reverse Mortgage product that was just release by HUD (Department of Housing and Urban Development). With an extremely low MIP (mortgage insurance premium) of only .01% of the property’s value, the costs of a HECM … Continue reading

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More Realtor Education Needed to Increase HECM For Purchase Volume

With the FHA predicting a surge in Home Equity Conversion Mortgages (HECM) for Purchases next year to 3,420, up from 423 in 2009’s fiscal year, it seems a little surprising that the industry isn’t more optimistic about the program. “Everyone … Continue reading

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RMG NEWS : CCOA Announces Free HECM Counseling

Credit Counseling of Arkansas (CCOA) announced that it will be providing free reverse mortgage counseling to customers as of today. An $18,000 federal government grant from the U.S. Department of Housing and Urban Development (HUD) will allow CCOA to provide … Continue reading

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FHA Implements New HECM Counseling Standards and Protocol

The FHA released a final rule today making the new HECM counseling standards official. The rule goes into effect on October 2, 2009. Continue reading

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HECM Principal Limit Reduction – October 1’st 2009

The U.S. Department of Housing and Urban Development announced a new set of principal limit factors for the Federal Housing Administration (FHA) HECM program. The changes will lower the principal limits for the HECM by 10%. Continue reading

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Reverse Mortgages: CMT vs HECM

Recently the Reverse Mortgage market has added a new index to the available options. You now have a choice of the index for your loan. Continue reading

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Reverse Mortgage HECM Application

Reverse Mortgage HECM Application Please fill out every field in this contact form and a representative will contact shortly to discuss your reverse mortgage options. If you are curious why we can’t give you an estimate without speaking to you, … Continue reading

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Top 5 Factors for Applying Reverse Mortgage Loans

Senior citizens are always afraid to apply for loans to maintain their lifestyle and way of living. They are always in fear that the lender will take away their home in return of the loan or they will be burdened … Continue reading

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Poor 401(k) Performance Causes Increase in Reverse Mortgages Issued

Let’s face it. The current economic atmosphere is almost absent of 401(k) gains. The massive losses taken in the 401(k) arena is leaving senior homeowners struggling financially. Home Equity Conversion Mortgages, or HECMs, have been around for over 20 years. … Continue reading

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