Reverse Mortgage New Limits

Good new for those looking into a Reverse Mortgage! The American Recovery and Reinvestment Act of 2009 signed into law on February 17, 2009, the U.S. Department of Housing and Urban Development (HUD) that officially raised the national limit for Home Equity Conversion Mortgages (”HECM” or “Reverse Mortgage”) from $417,000 to $625,500 for the balance of 2009. This new lending limit may allow access to more funds from a Reverse Mortgage than previously allowed, especially for homes worth more than $417,000. With a Reverse Mortgage you may get be eligible to receive funds from $77,000 to $190,000!