Reverse Mortgage Updates
The Department of Housing and Urban Development (HUD) is the federal governmental agency that oversees the Home Equity Conversion Mortgage (HECM), or more commonly known as a reverse mortgage. HUD periodically introduces changes to the program, some relatively minor, others can have substantial effects on the HECM program. Please come back to this page often, as I will share with you the new laws; the effect date and highlights of the law. I promise to make it easier to read that trying to decifer “HUD language”.