Many of you may not be aware that MLS Reverse Mortgage has a celebrity in it’s midst. Check out our first reverse mortgage commercial starring Mike Borba. MLS Reverse Mortgage Commercial from MLS Mortgage on Vimeo.
HUD to Eliminate The Fixed Rate Standard Reverse Mortgage
After much speculation, HUD announced the future elimination date of the Fixed Rate Standard Home Equity Conversion Mortgage (HECM). For new case numbers assigned on or after April 1, 2013, any homeowner seeking a fixed rate reverse mortgage will be limited to the Fixed Rate Saver Program. HUD also notes that all fixed rate standard loans must …
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Comparing Fixed Rate and Adjustable Rate Reverse Mortgages
Adjustable Rate Reverse Mortgages Explained Adjustable rate reverse mortgages (also referred to as variable rate reverse mortgages) offer much more product flexibility than fixed rate loans for the simple fact that fixed loans require that the borrower take all the available proceeds in a one-time lump sum draw at closing, while adjustable rate loans allow …
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