Reverse Mortgages are still being offered and more and more seniors are taking advantage of the product.

There is widespread problems in the forward mortgage industry, however Reverse Mortgages are still a strong option for many homeowners.

HUD includes protection features in their Reverse Mortgage product:
Reverse mortgages also contain a “nonrecourse” component. The U.S. Department of Housing and Urban Development’s Home Equity Conversion Mortgage program, the nation’s most popular reverse mortgage with a market share of at least 85 percent to 90 percent, often is marketed with the statement, “the senior can never owe more on her loan than her house is worth at the time the loan is paid back.”

It is important to chose a reverse mortgage lender you can trust. Next Generation Financial Services, a division of 1st Mariner Bank will be glad to assist you with your Reverse Mortgage needs.

To learn more, request a Free Reverse Mortgage Information Packet.

This entry was posted on Wednesday, September 17th, 2008 at 8:18 am and is filed under Reverse Mortgage News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.