Reverse Mortgage/HECM Program Update! FHA has added protections for non-borrowing spouses on a Reverse Mortgage/HECM loan. These protections are a big win for those of you who presently have a Reverse Mortgage, or plan to consider this option. Contact me for full details.
Related Article Title: FHA Mortgagee Letter 2021-11-Dated & FHA HECM Monthly Update Written by: Melinda Hipp, Staff Writer Rule Synopsis FHA published ML Letter 2021-11 “Amendments to HUD’s Non-Borrowing Spouse Policy” for all HECM loans. These changes implement additional protections for eligible non-borrower spouses. Interpretations & Update FHA Mortgagee Letter 2021-11 Following are the changes […]