HECMs prove troublesome for some borrowers and lenders
While reverse mortgages allow older homeowners the opportunity to draw on home equity with minimal risk, problems arising from flaws in program structure are causing headaches for borrowers and issuers alike, according to recent reports. Miscommunication and misunderstandings about the rules surrounding the Federal Housing Administration’s home equity conversion mortgage, or HECM program, are leading … [Read more…]