HECM Reverse Mortgages are Non Recourse
Categories:
Reverse Mortgage Glossary
Non Recourse means that you or your estate can never lose more than the home.
When a Reverse Mortgage is Due
Categories:
Reverse Mortgage Glossary
The acceleration clause is the part of a mortgage that allows a lender to call the remaining principal balance due, and ultimately take the property through foreclosure if the acceleration demand is not met.
FHA Loan Limits
Categories:
Reverse Mortgage Glossary
All HECM Reverse Mortgages are subject to the 203b loan limit (FHA Loan Limits) this is sometimes referred to as the "max claim" amount.
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