HUD Aims To Strengthen Reverse Mortgage Program

HUD recently announced that it will be tightening up guidelines on the HECM (Home Equity Conversion Mortgage) Reverse Mortgage program.  The new guideline changes are set to begin on October 1st, 2013 and will help to strengthen the program for the long term.  Learn about the changes and obtain a reverse mortgage guide on the pros and cons by contacting:  Rick Rodriguez, Production Manager, Proficio Mortgage, (877) 576-3783, rrodriguez@proficiomortgage.com, www.reversemortgageproficiobank.com.
The Chicago Tribune recently posted an article regarding the changes at:  http://articles.chicagotribune.com/2013-09-04/business/chi-hud-reverse-mortgages-20130904_1_mortgage-rules-mortgage-insurance-premiums-hecm