Reverse Mortgage Lending Limt $625,000 Ending!

Monday, June 22, 2009

Due to the financial mortgage crisis hitting hard around the country and especially in Las Vegas, the Federal Government has responded by raising the lending limits of the most popular Reverse Mortgage product, the HECM, from $417,000 to $625,000! This change was a long time coming and, frankly should have happened much earlier than this.

However, this limit raise is only temporary! You may not have this great chance to get the most out of the dormant equity in your home for much longer. The lending limit is set to go back to $417,000 by the end of the year 2009. This could also be followed by a raising in the interest rates, which at this time are the lowest in history.

To speak to an expert in the Reverse Mortgage industry, click HERE. (This will not obligate you to speak to an officer or provide any information.)

If you would like to use a Reverse Mortgage Calculator to see how much you may be eligible to receive, click HERE . (This will not obligate you to speak to an officer or provide any information.)