FHA: Reverse mortgage support is crucial
May 4th, 2010
Written by Frost Mortgage
Reverse mortgage programs operated by Housing and Urban Development (HUD) require help to continue, the Federal Housing Authority (FHA) told a House subcommittee recently, Reverse Mortgage Daily reports.
In testimony, an FHA assistant secretary said that, without support, HUD will be forced to more drastically cut principal limit factors (PLFs), which “would significantly reduce the amount of funds that would be available to seniors (more than 30%), which is on average a $23,000 to $27,000 impact.”
We know what a reverse mortgage can mean to older members of our community. As a full eagle licensed FHA lender, Frost Mortgage is a great choice for your reverse mortgage questions. Please, contact us today and find out why we don’t just close mortgages–we open doors.
Please take a moment to learn more about how Frost Mortgage can help you. If you're looking for a mortgage, please visit our Find a Loan Officer page. And if you're looking for the best Branch Partner opportunity in the business, please visit our Branch Opportunities page. Thank you!
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