Understanding Reverse is released each year with fresh updates and edits, as the reverse mortgage program changes.
NEW updates for 2017 include:
- A Principal Limit Factor quick reference guide was added for traditional borrowers as well as non-borrowing spouses. This will allow the reader to calculate their maximum benefit at the time of application.
- HECM Loan Limits were updated for 2017 ($636,150). This impacts the calculation of the Max Claim Amount (MCA) for higher value homes.
What is a Reverse Mortgage?
Is it more than a loan program for those who are “house-rich, but cash poor”? How does the “non-recourse feature” protect homeowners and their heirs? Can the available line-of-credit and its growth rate be used for insurance and financial planning purposes?
This book answers these questions and many more in a user-friendly way, and may be the most comprehensive educational tool available on the New Reverse Mortgage.
It should be read by baby boomers, retirees, older adults with mortgages, heirs, financial planners, housing counselors, HECM counselors, Realtors, brokers, financial journalists, mortgage professionals, estate planners, and of course all homeowners who want greater assurance that they can comfortably grow older in their own homes.
Here is that the press is saying about the book: