Setting Limits On Reverse Loans

From the LA Times:

Are you 62 or older, own your own home and thinking about a reverse mortgage? HUD today approved a new national limit of $417,000 for Home Equity Conversion Mortgages (HECMs).

This is higher than previous lending limits, which varied by county and ranged from $200,160 to $362,790. Those considering tapping their home equity through a reverse mortgage can check out the National Reverse Mortgage Lenders Assn.’s consumer website for a list of local lenders.

About Luke Ford

Raised a Seventh-Day Adventist at Avondale College in Australia, Luke Ford moved to California in 1977. He graduated from Placer High School in 1984, reported the news at KAHI/KHYL radio for three years, attended Sierra College and UCLA, was largely bedridden by Chronic Fatigue Syndrome for six years, and converted to Judaism in 1993. From 1997-2007, Luke made his living from blogging. Living by Beverly Hills (Alexander90210.com), he now teaches the Alexander Technique (moving the way the body likes to move). Lessons cost $100 each and last about 45 minutes. In 2011, Luke completed a three-year teaching course at the Alexander Training Institute of Los Angeles. His personal Alexander Technique website is Alexander90210.com. Luke is the author of five books, including: » The Producers: Profiles in Frustration » Yesterday’s News Tomorrow: Inside American Jewish Journalism
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