If you or someone you know is contemplating a reverse mortgage, it’s time to act. There are many reasons for that, not the least of which is our low interest rate environment. But paramount for many potential participants in this government program is the looming Financial Assessment policy that goes into effect very soon. I have my own opinion about this development of course and I invite you to contact me about the details of the new qualifications. The new rules are not a deal breaker for the majority of older Americans. But there are some folks who will be shut out very soon.
Over the years I have come to highly respect “The Mortgage Professor”, Jack Guttentag. Please see his take on the matter here.