changes to reverse mortgage program

Reverse Mortgage Changes Outlined

Posted on 02/13/2013 by | Money and Work | Comments

Bulletin Today | Money & SavingsMulling over the prospect of getting a reverse mortgage? Read on. You just might find that big changes to the program make these loans less appealing. Assistant Secretary for Housing Carol Galante says the Federal Housing Administration is taking “aggressive action” to shore up its future after the housing meltdown left it in financial straits. Projected losses for the nation’s reverse mortgage program was $2.8 billion as of last year, she said in testimony before the House Financial Services Committee …