Even now, reverse mortgages a viable option
Most reverse mortgage options have left the market, victims of the global credit crunch. Yet the biggest player with the longest history still remains, and it pushed the industry into positive growth territory for the 19th straight year.
More than 700 members of the National Reverse Mortgage Lenders Association gathered in Los Angeles for the group’s annual meeting to discuss new ideas, review statistics and hear a year-end assessment by outgoing Federal Housing Administration Commissioner Brian Montgomery.
While the 4.3 percent increase in the number of FHA-insured reverse mortgages was down significantly from previous years, it bettered the negative numbers of conventional loans. The FHA is a component of the Department of Housing and Urban Development and now the main player in the conventional and reverse mortgage markets.
Post from: Reverse Mortgage Loan Blog
