Reverse mortgage legislation

The FHA Modermazation Act (s.2330) is currently placed on hold.

It is now unlikely that any progress will be made till the spring of 2008.

Eben www.mireverse.com

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HECM 100 vs HECM 150

There has been some talk lately about the potential benefits of the hecm 150 over the hecm 100 .

The interest charged is 50 basis points higher than the hecm 100. this has the net effect of a lower service set aside and faster creditline growth rates. The benefit of which is more available cash to the borrower and faster credt line growth rates.

Anyone that is looking to hedge a homes future value (see video) or maximize tenure payments or current cash to close. Should look into this program.

If your bank recommends the 150 over the 100 be sure to ask if you are eligible for any lender credit at settlement.

That's all for today.

Eben

HECM Rates hit new low

HECM 100 rates are at 4.25%

12-4-2007

Long time no blog

Hello glad to be blogging again.