June 13, 2024

Banks Exit FHA Reverse Mortgage Program As Defaults And Losses Skyrocket

The FHA’s reverse mortgage program, known as the Home Equity Conversion Program, (HECM) has been very popular with retired borrowers. ┬áThe program allows homeowners 62 years of age or older to withdraw some of the equity from their homes without having to make a mortgage payment. ┬áThe money obtained under the HECM can be in […]