Many aspects of the reverse mortgage industry are changing, for many years; reverse mortgages have been great way for seniors 62 and older to pull equity out of their homes to pay the bills and enjoy their retirement. While expensive, the reverse mortgage loans have been highly regulated in terms of fees and rate disclosures. The loan allowed a sense of security since the rates and fees usually rates set when the loan process started. Which leaves some mortgage professionals’ worried about the current changes from Fannie Mae which allows the margins to fluctuate during the funding process. These changes can cause many seniors to feel unsure about a loan that already can seem confusing.
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