http://www.wannanetwork.com/2009/05/09/hecm-reverse-mortgage-questions/ WannaNetwork.com - Connecting Homeowners And Local Real Estate Professionals Fri, 03 Feb 2012 22:30:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.wannanetwork.com/2009/05/09/hecm-reverse-mortgage-questions/comment-page-1/#comment-223 Mark Madsen Thu, 28 May 2009 17:21:00 +0000 http://wannanetwork.com/lasvegasmortgage/?p=142#comment-223 That's a good question. I'd probably guess that there is a lower rate of default due to the fact that the only things reverse mortgage borrowers have to worry about are annual taxes, home owners insurance and HOA dues. That’s a good question. I’d probably guess that there is a lower rate of default due to the fact that the only things reverse mortgage borrowers have to worry about are annual taxes, home owners insurance and HOA dues.

]]> http://www.wannanetwork.com/2009/05/09/hecm-reverse-mortgage-questions/comment-page-1/#comment-224 Rancho Santa Fe Homes Thu, 28 May 2009 07:32:41 +0000 http://wannanetwork.com/lasvegasmortgage/?p=142#comment-224 I'm curious whether these 62-and-over home owners who took out reverse mortgages are defaulting at the same rate as other borrowers who have more conventional loans. Also, you mention that FHA insures against the drop in home value, but does the lender stop paying out equity on the reverse mortgage if average home prices drop substantially? I’m curious whether these 62-and-over home owners who took out reverse mortgages are defaulting at the same rate as other borrowers who have more conventional loans. Also, you mention that FHA insures against the drop in home value, but does the lender stop paying out equity on the reverse mortgage if average home prices drop substantially?

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