The guidance is designed to clarify requirements for obtaining HECM counseling certification, and to provide a HECM "toolkit" ...

The White House expects continued performance from the HECM portion of the MMI Fund, according to a recent budget document.

For HECMs, the most common type of reverse mortgage, the maximum you can borrow is $1,149,825 in 2024, according to the U.S. Department of Housing and Urban Development (HUD). It’s possible that ...

Attendance at a HUD-approved reverse mortgage counseling session Before you can be approved for a reverse mortgage, you must meet with a third-party housing counselor at a certified counseling ...

The Federal Housing Administration (FHA), part of the U.S. Department of Housing and Urban Development (HUD), provides insurance for a type of reverse mortgage known as a home equity conversion ...

Qualifying for a reverse mortgage backed by the United States Department of Housing and Urban Development (HUD), for example, requires being age 62 or older, living in the home as your principal ...

Thanks to HUD supervision, reverse mortgage defaults dropped from 5% in 2014 to 1.5% in 2019, and HUD counseling services have become a crucial tool in educating borrowers about potential risks ...

property taxes and HOA fees when applicable You must complete a counseling session with a HUD-Certified Housing Counselor Funds from a reverse mortgage can be used for whatever you wish ...

As a HUD-HECM-approved lender, we are committed to helping senior homeowners achieve financial security and peace of mind through the power of reverse loans. Our reverse mortgage specialists ...

Condominiums need approval from HUD to be eligible for a reverse mortgage. Three types of reverse mortgages are available — Single-Purpose, Proprietary and Home Equity Conversion Mortgage (HECM).

or a HUD-approved condo or manufactured home. There are several ways to get your money with a reverse mortgage loan. You can choose between: A lump sum payout and receive the full amount when you ...

Before making a decision, it's typically a good idea to consult a financial advisor or HUD-approved counselor to fully understand how a reverse mortgage fits into your financial picture.