Home Sales Are Up

The Department of Housing and Urban Development (HUD) has issued their June Scorecard and it is signaling that a healthy housing recovery is underway.  As a result of double-digit gains in home sales, declining foreclosures and strong home equity growth in May, HUD states these are all signs of a healthy recovery.  These gains along with recent changes to the FHA Reverse Mortgage Principal Limit Factors are helping senior homeowners qualify for larger benefits under the HECM program.