FHA eliminates the HECM Standard Fixed Reverse Mortgage

Effective April 1, 2013, FHA eliminated the HECM Standard Fixed product.  This was a very popular product because of the low fixed interest rate and the lump sum requirement at closing.  While some moan at the elimination, there are plenty of other products that can fit an older homeowner’s needs.  Let me know if I can help any of your family or friends.  I promise gentle care for them.

 

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About Marty Appel

I work with clients who are looking to purchase a home or refinance their existing mortgage using the FHA HECM (Home Equity Conversion Mortgage). I have developed a specialty with over 14 years’ experience in reverse mortgages. I pride myself on my ability to assist older homeowners navigate the reverse mortgage process with ease and confidence. I help seniors improve their financial future and remain in their homes. My technical knowledge of FHA rules and lender policies help clients avoid the pitfalls in the loan process experience. My passion and longevity make me an excellent source of valuable information about everything there is to know about a reverse mortgage.
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