“Ding dong, the witch is dead . . .” oh wait a minute, we need the jumbo reverse mortgage! It WAS a good program. It filled a niche for homeowners who are very equity rich and cash poor. But for now, it is true, the last jumbo reverse mortgage, called the Equity Plus Advantage (EPA) [...]
Tag Archives: HECM
Reverse Mortgage Lenders Dropping Like Flies
You might think that reverse mortgage lenders and banks, with their gobs of protective equity, would be immune to the Wall Street mortgage lending crisis. After all, how bad could the default rate on a home loan with no payments and at 40% to 50% LTV be? Tell that to the Wall Street bears.
Since investors [...]
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