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You can never owe more than what your house is worth, and you cannot lose your home?
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HECM stands for Home Conversion Equity Mortgage?
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Both spouses on title must be 62 or older to qualify for a reverse mortgage?
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The FHA
HECM Reverse Mortgage Loan Limits have recently
been raised to $417,000 nationwide.
This change just signed into law now offers
many more senior homeowners around the U.S.
the opportunity to access more equity in
their homes with a reverse mortgage.
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| Resources
and Links |
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Important
Reverse Mortgage Web Sites
AARP’s
Reverse Mortgage Calculator
This is one of several types of reverse mortgage
calculators that are available. It provides estimates
for two nationally available reverse mortgage
programs.
AARP’s
Reverse Mortgage Pages
AARP provides an excellent resource for consumers.
Check out their Home Made Money publication.
FHA
Mortgage Limits
Used to determine the maximum claim amount for
the HECM program.
HECM
resources / studio
/ blog
This site provides resources for counselors and
lenders, and is provided by AARP’s Foundation’s
Reverse Mortgage Education Project.
HUD’s
Counselor Lists
HUD’s portal for the reverse mortgage counseling
network.
HUD’s
HECM Home Page
The homepage for the U.S. Department of Housing
and Urban Development’s (HUD) HECM program.
National
Reverse Mortgage Lenders Association (NRMLA)
NRMLA is a membership organization for lenders,
vendors, and other companies that originate, service
and/or invest in reverse mortgages.
Mortgage-South
The main corporate web site for Mortgage South
of Tennessee that offers "forward" or
conventional mortgage loans.
Marine
Creative
The company that developed this web site for Mortgage-South.
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