Posts Tagged ‘reverse’
My timing may have been off?
I wake up this morning, and this is one of the first articles that hits me in the face courtesy of CNBC:
http://www.cnbc.com/id/32911222
Pay attention to the changes that are on the way including the introduction of new minimum net worth standards and new minimum credit scores. This is very big news. The government’s push to blame the small lender and broker for stupid underwriting is reaching a fevered pitch. Too, my predicitons in the previous post relating to FHA’s insolvency may have been long on the trigger point.
Bottom line? If you know anyone who is struggling and needs a reverse mortgage, NOW is the time, or forever hold your peace. For that matter, the same may be said for the majority of potential FHA regular mortgage borrowers.