New and Proposed FHA & VA changes – HECMs In The News

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Posted To: Pipeline Press

Research by the EBRI on retirement finds while 67% of workers plan to work for pay in retirement, only 27% of retirees do so. Of the retirees who worked, the reasons included wanting to stay active and involved (82%), enjoy working (80%), wanting money to buy extras (57%), need money to make ends meet (51%), a decrease in the value of their savings or investments (43%), and to keep health insurance or other benefits (32%). FHA published its Home Equity Conversion Mortgage (HECM) proposed rule , Strengthening the Home Equity Conversion Mortgage Program (FR-5353-P-01), in the Federal Register. This is a milestone step for FHA in its efforts to ensure the continued viability of its HECM program. The proposed rule updates the regulations (24 CFR Parts 30 and 206), consolidating all HECM regulations…(read more)

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