The Senate just recently passed a $1.1 trillion spending bill that will make way for housing counseling funding, including reverse mortgage counseling. The bill did not specify the exact amount that will be allocated to reverse mortgage counseling, however the overall total amount of $47 million allocated to housing counseling is $2 million more than what was allocated for 2014. This should allow some agencies to offer "free" reverse mortgage counseling services, so homeowners should check with different agencies.
Friday, December 19, 2014
Reverse Mortgages 2014 In Review
The year 2014 saw many changes for the reverse mortgage industry, which for some is nothing new. Over the past several years, the industry has gone through its fair share of changes. Reverse Mortgage Daily compiled its 10 most read articles of 2014 ranging from the exit of Generation Mortgage to the new Non-Borrowing Spouse regulation. Bring yourself up to speed and click here to read all the stories that impacted reverse mortgages during the year.
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