2017! Does that sound as odd to you as it does to me? Seems like it was only yesterday that HUD finally lifted the county by county limits on the HECM program and we went to a national limit of $417,000 that was raised just a year later to $625,500 and just stayed there but that was actually 2008/2009. Just last week when we were worrying about the Y2K bug, when all the … [Read more...] about Reverse Mortgage Changes 2017
HUD SUSPENDS MIP REDUCTION The Department of Housing and Urban Development (HUD) announced today that the recent Reduction of Mortgage Insurance Premiums (MIP), outlined in FHA Letter 2017-01 were suspended. According to posted information from Housing Wire, the letter stated that a subsequent Mortgagee Letter will be issued at a later date should this suspension or policy … [Read more...] about Alert: Reduced FHA Insurance Premiums Repealed
In the last 72 hours I sent an e-mail to all my clients, consumers as well as professionals, in order to alert seniors, specifically those 62 or over, about the NEW FINANCIAL ASSESSMENT RULES for REVERSE MORTGAGES. Everyone has family, friends, neighbors, or associates that may be impacted. The new rules were to take effect March 2, but have been postponed 30-60 days. … [Read more...] about Reverse Mortgage Rules Take Effect March 2nd, 2015
If you had an FHA-insured mortgage, you may be eligible for a refund from HUD/FHA. Due to increased public interest, the Mortgage Insurance Premium Refund Support Service Center is experiencing a high volume of calls. http://www.hud.gov/offices/hsg/comp/refunds/index.cfm FHA Homeowners Fact Sheet Who may be eligible for an FHA refund or … [Read more...] about Does HUD Owe You a Refund?