RMD Report: Reverse Mortgage Industry Sees Big Potential in New Condo Rule

The Department of Housing and Urban Development (HUD) announced earlier this month a new process for condominium approvals, effective October 15, which will expand FHA financing for qualified first time home-buyers as well as seniors looking to age in place, allowing those seniors to engage in reverse mortgage loans for single condominium units.

If you need more information, please contact the contributor of this article, Michael Kennedy at East Coast Capital 508-646-4351 or by email mkennedy@eastcoastcap.com