Effective January 1, 2020, FHA increased the Maximum Claim Amount (MCA) from $726,525 to $765,600. ..
In case you didn’t know, I have a 30 minutes radio show that airs on KLZ AM 560 every Thursday afternoon at 2:30 PM and replays on Saturday and Sunday. On October 18th, 25th and November 1st I discussed how to shop for a Home Equity Conversion Mortgage (HECM).This is the name for the FHA insured reverse mortgage. ..
We invited real homeowners to participate in a blind challenge, comparing two home equity line of credit products: a traditional home equity line of credit and a reverse mortgage line of credit. We called this the Home Equity Line of Credit Challenge. Our groups learned that while both products let you tap into the equity in your home to help you fund your retirement, there are some important differences. They discovered that there are options for how and when to repay the loans, that monthly payments and available funds can change over time, and that only one of the products is government insured. Finally, we asked them to choose which product they preferred. ..
Get this 28 page Consumer Guide packed with all the facts you need to make an informed decision to see if a reverse mortgage is right for you.
American Liberty Mortgage, Inc.
Bruce E. Simmons, CRMP
Reverse Mortgage Manager
1932 W 33rd Ave
Denver, CO 80211
Direct: (303) 467-7821
Cell: (303) 513-2748
Toll Free: 1-877-467-7801
Fax: (303) 600-7871