HUD Reverse Mortgage Lending Limits Set To Expire
The FHA maximum claim amount for HECM reverse mortgages has been $625,500 since 2009. It is scheduled to decrease to $417,000 on December 31, 2011 unless Congress votes to extend it. This means many older home owners in the Bay Area will receive substantially less money if they begin the reverse mortgage process next year. For example, a 75 year old […]