This is exciting news to Senior Americans who have wanted to purchase a new residence but could not pay for the home in full and did not qualify under conventional underwriting standards.
This includes those who wish to downsize, move closer to family and friends, move into senior communities for the activities or amenities they offer, or those who find that their current home simply does not meet their needs any longer such as those needing wider halls for wheel chair access and those needing single story homes that currently reside in multiple story properties.
And, just what properties, and with what bubble mortgages, are you selling, Cliff? You're probably the type of ppl I warned about.
Selling? Nothing to you just doing my part as an ethical originator to better educate those who are misinformed. How do you go about bashing a federally insured program since 1988 as some bubble program like subprime loans? I would invite you to do little more homework before you start ranting about things you don't know much about.
The federal government has insured many a program; doesn't mean the program is necessarily good.
Otherwise, I let the original story I linked to and blogged about speak for itself, along with other stories in the past about reverse mortgage holders being sold on "special investment programs" for their equity "windfalls."
You don't sell any of those, do you?
Commenting by HaloScan
