Reverse Mortgages for Senior Homeowners. Cindy Stokes Utah State University (adapted from AARP information). A Little History. 1979 Federal Home Loan Bank creates Reverse Mortgage concept 1989 HUD/FHA introduces HECM 1989 Fannie Mae agrees to purchase HECM loans
Related searches for Reverse Mortgages for Senior Homeowners
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
Utah State University
(adapted from AARP information)
on $100,000 loan
Reverse Mortgage with $100,000 loan
Each payment to borrower from lender:
Principal increasesForward vs. Reverse
“Up the Down Staircase”
Total amount available is based on:
Actual amount to be received monthly is based on:
All costs charged monthly and added to principal loan balance.
Periodic status statements sent out every 3 months.
No payment is due until mortgage loan is paid off.