Reverse Mortgage Financial Assessment

Recently, Met Life announced that they would no longer be implementing their reverse mortgage financial assessment restrictions on their borrowers.  The short lived policy was in effect from November 2011 until January 2012, and caused many seniors to turn to other reverse mortgage lenders who are less stringent.  Most would agree that Met Life's policy was over the top and disqualified many borrowers who were fully capable of qualifying for a reverse mortgage.  However, the consensus of the reverse mortgage industry agree that changes should be made to ensure that we are not creating tomorrow's foreclosure or worsening it for that matter.  For now, seniors can continue to apply for reverse mortgages without having to worry about credit blemishes or income requirements, but look out for changes in the near future.

To stay up to date on the latest changes in the reverse mortgage industry, contact:
Rick Rodriguez, Reverse Mortgage Consultant
1-877-576-3783 direct toll free
Visit: www.reversemortgagebenefit.com