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Question of the Day
Question of the Day
I am concerned about all the news about having to pass a financial assessment before my mother can get a reverse mortgage. Is it possible she could be turned down?
Thanks, Cynthia
Cynthia:
HUD has yet to issue any formal guidelines as to what will be required for such assessments. And, as I mentioned two weeks ago, MetLife has backed off it's financial assessments as well. Our lender is Security One Lending and they have yet to begin such assessments. For now, I think she will be Ok. The fall of 2012 might be very different, so I would proceed now while HUD is only in the planning stages right now.
georgiareverseloans.com
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HUD has yet to issue any formal guidelines as to what will be required for such assessments. And, as I mentioned two weeks ago, MetLife has backed off it's financial assessments as well. Our lender is Security One Lending and they have yet to begin such assessments. For now, I think she will be Ok. The fall of 2012 might be very different, so I would proceed now while HUD is only in the planning stages right now.
georgiareverseloans.com
Click below to:
Ask Your Question!
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